Bullish (NYSE:BLSH) Shares Up 13% – Should You Buy?

Shares of Bullish (NYSE:BLSH) rose 13% during mid-day trading on Thursday . The stock traded as high as $27.94 and last traded at $27.8240. Approximately 557,143 shares traded hands during trading, a decline of 66% from the average daily volume of 1,624,564 shares. The stock had previously closed at $24.63.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Q2 earnings beat expectations. Bullish reported approximately $92.6 million in revenue, up about 62% year over year, and earnings of $0.09–$0.10 per share versus the $0.09 consensus estimate. The revenue growth and return to year-over-year profitability are supporting the stock. Bullish Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Tokenized equity trading has launched. Institutional participants executed trades in tokenized BLSH shares on Bullish Exchange, settled with a USD stablecoin. The initiative is the first tokenized-equity trading activity on a Gibraltar Financial Services Commission-regulated exchange and could strengthen Bullish’s positioning in regulated digital-asset market infrastructure. The platform offers 24/7 trading and near-instant settlement. Bullish launches tokenized equity trading
• Neutral Sentiment: Equiniti remains a key catalyst and risk. Bullish expects its $4.2 billion acquisition of transfer-agent and registry provider Equiniti to close in January 2027, subject to regulatory approvals. Completion could provide end-to-end tokenization infrastructure, but delays or integration challenges could limit the expected benefits. Bullish stock gains despite Bitcoin write-down
• Negative Sentiment: Bitcoin exposure produced a substantial accounting loss. The quarter included roughly a $280 million net loss from a Bitcoin markdown, resulting in a deeply negative net margin despite the improved operating results. This highlights earnings volatility tied to digital-asset prices and may temper enthusiasm over the headline earnings beat.

Analysts Set New Price Targets

Several research firms recently weighed in on BLSH. Cantor Fitzgerald increased their target price on Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Zacks Research cut Bullish from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. JPMorgan Chase & Co. cut their price objective 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. Rosenblatt Securities raised their target price 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. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.67.

Bullish Trading Up 7.9%

The business has a fifty day moving average price of $24.57 and a 200 day moving average price of $31.97. The company has a market capitalization of $4.01 billion and a PE ratio of -4.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42.

Bullish (NYSE:BLSH) last issued its earnings results on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The business had revenue of $92.62 million during the quarter. The company’s quarterly revenue was up 62.5% on a year-over-year basis. Analysts expect that Bullish will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Bullish

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

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.