Bullish (NYSE:BLSH) Stock Rated Strong-Buy in New Coverage at Stonex Financial

Analysts at Stonex Financial initiated coverage on shares of Bullish (NYSE:BLSH) in a report issued on Monday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

BLSH has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on Bullish from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 14th. Citigroup reissued a “buy” rating on shares of Bullish in a research note on Monday, July 27th. Freedom Broker initiated coverage on shares of Bullish in a report on Tuesday, November 3rd. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Bullish from $55.00 to $40.00 and set a “market perform” rating for the company in a research note on Tuesday, September 29th. Finally, Compass Point raised Bullish from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $51.00 in a research note on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.36.

Bullish Price Performance

Shares of BLSH opened at $22.17 on Monday. The stock has a market cap of $3.34 billion, a PE ratio of 60.00 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 23.52 and a quick ratio of 22.41. Bullish has a 1-year low of $20.06 and a 1-year high of $48.93. The firm has a fifty day moving average price of $31.68 and a 200 day moving average price of $31.78.

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

Hedge Funds Weigh In On Bullish

Large investors have recently modified their holdings of the stock. Ieq Capital LLC acquired a new position in Bullish in the third quarter worth about $1,627,000. Voya Investment Management LLC raised its stake in Bullish by 1,009.8% during the third quarter. Voya Investment Management LLC now owns 807,778 shares of the company’s stock valued at $28,183,000 after buying an additional 734,989 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Bullish by 790.4% during the 3rd quarter. Global Retirement Partners LLC now owns 1,478 shares of the company’s stock worth $52,000 after buying an additional 1,312 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Bullish by 1,600.0% during the 3rd quarter. Rothschild Investment LLC now owns 1,700 shares of the company’s stock worth $59,000 after buying an additional 1,600 shares during the last quarter. Finally, Jacobi Capital Management LLC acquired a new position in shares of Bullish in the 3rd quarter worth approximately $45,000.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Neutral Sentiment: Bullish’s new president backed an “issuer-first” model for tokenized stocks. The stance reinforces the company’s focus on tokenized securities, a potential longer-term opportunity, but the article provides no new financial outlook, deal, or adoption figures to establish an immediate earnings impact. Bullish’s New President Backs Issuer-First Model for Tokenized Stocks

About Bullish

Bullish is a digital asset company that operates the Bullish exchange, a platform focused on cryptocurrency trading and financial services for institutional and professional clients. Its offerings include spot and derivatives trading, along with related market and liquidity services. The company was founded in 2021 and expanded its digital asset and media businesses through its 2023 acquisition of CoinDesk, which provides cryptocurrency news, data, research and industry events. Bullish serves clients in multiple international markets, subject to local regulations.