JPMorgan Chase & Co. Makes New $9.86 Million Investment in Bullish $BLSH

JPMorgan Chase & Co. bought a new stake in Bullish (NYSE:BLSH) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 155,066 shares of the company’s stock, valued at approximately $9,864,000.

Several other hedge funds also recently made changes to their positions in BLSH. Tradewinds Capital Management LLC acquired a new stake in shares of Bullish during the third quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new stake in Bullish in the third quarter valued at approximately $29,000. CWM LLC purchased a new position in shares of Bullish during the third quarter worth approximately $31,000. 10Elms LLP acquired a new position in shares of Bullish in the 3rd quarter valued at $32,000. Finally, Tsfg LLC acquired a new position in shares of Bullish in the 3rd quarter valued at $45,000.

Analyst Upgrades and Downgrades

BLSH has been the topic of several research reports. Rosenblatt Securities lowered their price objective on shares of Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Citigroup dropped their price target on Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their price target on Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.92.

Bullish Trading Down 5.7%

NYSE:BLSH opened at $34.37 on Friday. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28. The stock has a fifty day moving average price of $34.15 and a two-hundred day moving average price of $43.98. The stock has a market capitalization of $5.18 billion and a price-to-earnings ratio of 343.74.

Bullish (NYSE:BLSH) last issued its earnings results on Friday, February 6th. The company reported ($3.73) EPS for the quarter, missing the consensus estimate of $0.16 by ($3.89). Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The company had revenue of $92.51 million for the quarter. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s quarterly revenue was up 67.6% on a year-over-year basis.

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.