Bullish (NYSE:BLSH) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Bullish from “strong sell” to “hold.” The broader analyst consensus is also “Hold,” with four Buy, eight Hold and one Sell rating, and an average price target of $48.92.
• Bullish opened at $33.08, compared with a 12-month range of $20.55 to $74.98. Its latest quarter met EPS expectations at $0.09, while revenue rose 62.5% year over year to $92.62 million.
• Institutional investors have recently built positions in Bullish, including Stephens Investment Management, which nearly doubled its holdings, and Renaissance Technologies, which increased its stake by 178.4%.

Bullish (NYSE:BLSH - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

Several other brokerages have also issued reports on BLSH. Cantor Fitzgerald lifted their target price on shares of Bullish from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Bullish from a "sell" rating to a "hold" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $61.00 price objective on shares of Bullish in a research report on Friday, May 15th. Canaccord Genuity Group cut their target price on shares of Bullish from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Finally, Rosenblatt Securities reduced their target price on Bullish from $42.50 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bullish has an average rating of "Hold" and a consensus target price of $48.92.

Bullish Price Performance

BLSH opened at $33.08 on Monday. The firm has a 50-day moving average price of $25.54 and a 200-day moving average price of $31.84. Bullish has a twelve month low of $20.55 and a twelve month high of $74.98. The company has a quick ratio of 22.41, a current ratio of 23.52 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.99 billion and a price-to-earnings ratio of -3.57.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $92.62 million for the quarter. The company's revenue for the quarter was up 62.5% on a year-over-year basis. Equities analysts expect that Bullish will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP purchased a new position in shares of Bullish during the 1st quarter worth $2,457,000. Intrinsic Edge Capital Management LLC purchased a new position in Bullish during the first quarter valued at $7,830,000. Harvest Portfolios Group Inc. purchased a new position in Bullish during the fourth quarter valued at $1,990,000. Stephens Investment Management Group LLC grew its holdings in Bullish by 99.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 850,248 shares of the company's stock valued at $32,199,000 after purchasing an additional 424,523 shares during the period. Finally, Renaissance Technologies LLC increased its position in 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 buying an additional 100,500 shares in the last quarter.

Trending Headlines about Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish’s $100 million commitment gives the company exposure to demand for financing backed by high-value graphics processing units, which are increasingly used for AI computing. The initiative could diversify revenue beyond its core digital-asset market infrastructure business and strengthen its positioning in an emerging financial niche. Bullish Commits $100 Million to GPU-Backed AI Loans via USD.AI
• Neutral Sentiment: The investment is a capital deployment rather than immediately reported revenue or earnings, so the financial benefit will depend on loan demand, yields, collateral values and repayment performance. Investors may also continue to focus on Bullish’s high valuation and volatile trading history while waiting for evidence that the initiative contributes materially to results.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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