Wall Street Zen Downgrades Bullish (NYSE:BLSH) to Sell

Bullish (NYSE:BLSH) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Several other analysts have also issued reports on BLSH. Rosenblatt Securities upped their price target on shares of Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $61.00 price objective on shares of Bullish in a research note on Friday, May 15th. JPMorgan Chase & Co. dropped their target price on shares of Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Cantor Fitzgerald raised their target price on shares of Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Zacks Research downgraded Bullish from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.67.

Bullish Stock Down 4.6%

NYSE:BLSH opened at $22.85 on Friday. Bullish has a twelve month low of $21.76 and a twelve month high of $118.00. The firm has a market capitalization of $3.45 billion and a price-to-earnings ratio of -3.49. The company has a quick ratio of 25.23, a current ratio of 26.42 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $27.18 and its two-hundred day moving average price is $33.28.

Bullish (NYSE:BLSH) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The company had revenue of $92.83 million during the quarter. Bullish’s quarterly revenue was up 48.8% on a year-over-year basis. Equities research analysts expect that Bullish will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $43.95, for a total value of $3,516,000.00. Following the transaction, the chief executive officer owned 80,000 shares in the company, valued at approximately $3,516,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Bullish

Hedge funds have recently bought and sold shares of the stock. Essential Partners LLC bought a new position in shares of Bullish during the first quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new position in Bullish in the 4th quarter valued at $28,000. Strs Ohio acquired a new position in Bullish in the 4th quarter valued at $30,000. MetLife Investment Management LLC acquired a new stake in shares of Bullish during the fourth quarter worth $30,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Bullish in the fourth quarter valued at about $61,000.

Bullish Company Profile

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.