North Reef Capital Management LP Takes Position in Bullish $BLSH

North Reef Capital Management LP bought a new position in shares of Bullish (NYSE:BLSH) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 80,000 shares of the company’s stock, valued at approximately $5,089,000.

A number of other hedge funds have also added to or reduced their stakes in BLSH. Maltese Capital Management LLC acquired a new stake in Bullish in the 3rd quarter valued at $1,228,000. Jain Global LLC bought a new position in shares of Bullish in the 3rd quarter valued at about $9,043,000. Fortress Investment Group LLC acquired a new stake in shares of Bullish in the third quarter valued at about $15,902,000. Bank of America Corp DE bought a new stake in Bullish during the third quarter worth about $8,035,000. Finally, Alliancebernstein L.P. bought a new stake in Bullish during the third quarter worth about $50,949,000.

Analyst Upgrades and Downgrades

BLSH has been the subject of a number of analyst reports. Citigroup decreased their price target on Bullish from $77.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a research note on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Bullish from a “hold” rating to a “buy” rating and decreased their target price for the company from $52.00 to $51.00 in a research note on Wednesday, November 19th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $50.00 price target on shares of Bullish in a research report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.08.

Bullish Trading Up 8.3%

BLSH stock opened at $39.66 on Tuesday. Bullish has a one year low of $24.79 and a one year high of $118.00. The stock has a market cap of $5.98 billion and a price-to-earnings ratio of 396.58. The company has a fifty day moving average price of $34.39 and a two-hundred day moving average price of $44.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 29.28 and a quick ratio of 27.69.

Bullish (NYSE:BLSH) last posted its earnings results on Thursday, February 5th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). The company had revenue of $92.50 million for the quarter. Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The business’s revenue was up 67.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS.

About Bullish

Bullish (NYSE: BLSH) is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm’s stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.