Bullish (NYSE:BLSH) Stock Rated Hold in New Coverage at Freedom Broker

Investment analysts at Freedom Broker started coverage on shares of Bullish (NYSE:BLSH) in a research note issued on Tuesday, Zacks reports. The firm set a “hold” rating on the stock.

A number of other research analysts have also weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $45.00 price target on shares of Bullish in a research note on Wednesday, September 23rd. Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. Citigroup reiterated a “buy” rating on shares of Bullish in a research report on Monday, July 27th. Compass Point raised Bullish from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $51.00 in a research note on Monday, September 14th. Finally, Zacks Research upgraded Bullish from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.36.

Bullish Stock Up 0.5%

BLSH stock opened at $23.07 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 23.52 and a quick ratio of 22.41. The company’s 50 day simple moving average is $32.62 and its 200-day simple moving average is $32.11. The firm has a market capitalization of $3.48 billion, a PE ratio of 60.42 and a beta of 1.06. Bullish has a 12 month low of $20.55 and a 12 month high of $48.93.

Bullish (NYSE:BLSH) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $92.62 million for the quarter. Bullish had a positive return on equity of 2.48% and a negative net margin of 389.38%. The business’s quarterly revenue was up 62.5% compared to the same quarter last year. Equities analysts expect that Bullish will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Bullish

A number of institutional investors have recently modified their holdings of BLSH. Amova Asset Management Americas Inc. increased its position in Bullish by 51.9% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company’s stock worth $137,139,000 after purchasing an additional 1,311,243 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Bullish by 51.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock valued at $136,985,000 after buying an additional 1,304,573 shares in the last quarter. Galaxy Digital Inc. purchased a new stake in Bullish during the first quarter worth approximately $22,331,000. Intrinsic Edge Capital Management LLC purchased a new stake in Bullish during the first quarter worth approximately $7,830,000. Finally, Renaissance Technologies LLC increased its position in shares of Bullish by 178.4% in the first quarter. Renaissance Technologies LLC now owns 156,833 shares of the company’s stock worth $5,604,000 after acquiring an additional 100,500 shares in the last quarter.

Bullish News Summary

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish and Equiniti reported transferring 61 million tokenized shares at the NYSE, and Bullish selected Solana, Aptos and Ethereum as initial network partners for its tokenized-share service. The rollout could broaden the company’s digital-asset infrastructure and create opportunities for future activity and revenue, although the reports provided no financial guidance or revenue estimates. Read More..
• Neutral Sentiment: Aptos was separately reported as an initial network partner for the service, reinforcing the multi-chain rollout but adding no separate disclosed financial details. Read More..
• Negative Sentiment: ARK Invest reduced its Bullish holdings, selling about 342,545 shares valued at roughly $8 million across recent sessions, according to a report. The selling may weigh on sentiment, though it does not by itself indicate a change in Bullish’s business outlook. Read More..

Bullish Company Profile

Bullish is a digital asset trading and financial technology company that operates a regulated cryptocurrency exchange. Its platform is designed to provide trading and market infrastructure for digital assets, including spot trading and other services for institutional and professional investors.

The company’s offerings include access to cryptocurrency markets, custody and settlement capabilities, and tools intended to support liquidity, execution and portfolio management. Bullish also publishes digital asset market news and analysis through its media operations.

Bullish was established in 2021 and launched its exchange that year.