Bullish (NYSE:BLSH) Now Covered by Freedom Broker

Key Points

• Freedom Broker initiated coverage of Bullish with a Hold rating. Analysts overall also rate the stock Hold, with a $44.36 consensus price target; five analysts rate it Buy, seven Hold and one Sell.
• Bullish reported quarterly EPS of $0.09, matching estimates, and revenue of $92.62 million, up 62.5% year over year. Analysts forecast full-year EPS of $0.44.
• Bullish and Equiniti reported transferring 61 million tokenized shares and named Solana, Aptos and Ethereum as initial network partners for the service; no revenue guidance was provided.

Research analysts at Freedom Broker initiated coverage on shares of Bullish (NYSE:BLSH - Get Free Report) in a note issued to investors on Tuesday, Zacks reports. The brokerage set a "hold" rating on the stock.

Other analysts have also issued research reports about the company. UBS Group set a $43.00 price objective on Bullish in a research report on Monday, September 21st. Rosenblatt Securities lowered their target price on Bullish from $42.50 to $30.00 and set a "neutral" rating for the company in a research note on Friday, August 14th. Canaccord Genuity Group restated a "buy" rating and set a $45.00 price target on shares of Bullish in a report on Wednesday, September 23rd. JPMorgan Chase & Co. reduced their price target on Bullish from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, August 14th. Finally, Zacks Research upgraded Bullish from a "strong sell" rating to a "hold" rating in a research note on Monday, August 31st. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Bullish currently has an average rating of "Hold" and a consensus target price of $44.36.

Bullish Stock Performance

Shares of Bullish stock opened at $23.07 on Tuesday. The firm has a market cap of $3.48 billion, a PE ratio of 60.42 and a beta of 1.06. The company has a quick ratio of 22.41, a current ratio of 23.52 and a debt-to-equity ratio of 0.20. Bullish has a 52 week low of $20.55 and a 52 week high of $48.93. The business's fifty day simple moving average is $32.62 and its 200-day simple moving average is $32.11.

Bullish (NYSE:BLSH - Get Free Report) last issued its quarterly earnings data 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 2.48% and a negative net margin of 389.38%. The firm had revenue of $92.62 million during the quarter. Bullish's revenue for the quarter was up 62.5% on a year-over-year basis. Equities analysts forecast that Bullish will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Bullish

Several large investors have recently modified their holdings of BLSH. Essential Partners LLC purchased a new position in Bullish during the 1st quarter worth $27,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Bullish in the second quarter valued at about $59,000. CoreCap Advisors LLC acquired a new position in shares of Bullish during the third quarter worth about $67,000. Global Assets Advisory LLC purchased a new position in Bullish during the first quarter worth about $134,000. Finally, Versant Capital Management Inc lifted its position in Bullish by 975.3% in the third quarter. Versant Capital Management Inc now owns 3,914 shares of the company's stock valued at $137,000 after purchasing an additional 3,550 shares during the period.

Bullish News Roundup

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.

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