Bullish (NYSE:BLSH) Lowered to Sell Rating by Wall Street Zen

Key Points

• Bullish was downgraded to “sell” by Wall Street Zen from “hold,” adding to a mixed analyst picture for the crypto-related company.
• Other analysts remain split: Bullish currently has four Buy ratings, eight Hold ratings, and one Sell rating, with an average rating of “Hold” and an average price target of $51.92.
• The stock has been under pressure, opening at $27.05 versus a 52-week high of $118.00, while the latest earnings also missed expectations with $0.13 EPS versus a $0.17 estimate.

Bullish (NYSE:BLSH - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on Bullish from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Friday, February 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Bullish in a report on Friday, March 27th. Rosenblatt Securities raised their price target on Bullish from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $61.00 price target on shares of Bullish in a report on Friday, May 15th. Finally, Cantor Fitzgerald raised their price target on Bullish from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $51.92.

Bullish Price Performance

Shares of BLSH opened at $27.05 on Friday. The stock has a market capitalization of $4.08 billion and a P/E ratio of -4.13. Bullish has a twelve month low of $24.79 and a twelve month high of $118.00. The company has a 50 day moving average of $37.69 and a 200-day moving average of $37.70. The company has a quick ratio of 25.23, a current ratio of 26.42 and a debt-to-equity ratio of 0.18.

Bullish (NYSE:BLSH - Get Free Report) 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). The company had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. Bullish's quarterly revenue was up 48.8% on a year-over-year basis. As a group, equities research analysts forecast that Bullish will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of Bullish stock in a transaction on Monday, May 11th. The stock was sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the completion of the sale, the chief executive officer owned 80,000 shares of the company's stock, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Bullish

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of Bullish in the third quarter worth $29,000. 10Elms LLP bought a new position in shares of Bullish in the third quarter worth $32,000. Rakuten Securities Inc. bought a new position in shares of Bullish in the fourth quarter worth $28,000. Essential Partners LLC bought a new position in shares of Bullish in the first quarter worth $27,000. Finally, MetLife Investment Management LLC bought a new position in shares of Bullish in the fourth quarter worth $30,000.

Key Headlines Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bitcoin is gaining attention as it tests a major technical support level while the crypto industry could soon benefit from a favorable regulatory catalyst in Washington, which may support sentiment for crypto-linked names like Bullish. Bitcoin's Most Bullish Technical Signal Meets Crypto's Biggest Regulatory Catalyst
• Positive Sentiment: Broader market articles highlight analysts turning bullish on select stocks and sectors, reinforcing a risk-on tone that can indirectly help investor appetite for higher-volatility names. 12% Yield and Double-Digit Upside: Why Analysts Are Bullish on This S&P 500 ETF
• Neutral Sentiment: Several articles focus on analyst upgrades and bullish calls for other companies such as Tesla, Broadcom, Oracle, Adobe, and telehealth stocks, but they do not directly affect Bullish’s fundamentals. Good News, Elon: JPMorgan's New Tesla Analyst Just Ditched Years Of Bearish Calls And Flipped Bullish
• Negative Sentiment: One market strategist warned that even after a strong bullish run, equities could move into a correction or bear market phase, which may pressure speculative and recently weak stocks like Bullish. One of Wall Street's Most Bullish Market Strategists Sees a 3-Phased Market Coming That Includes a Correction or Bear Market

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.

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