Bullish (NYSE:BLSH) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Bullish has received an average analyst rating of "Hold" from 13 research firms, with eight holds, four buys, and one sell; the average 1-year price target is about $50.67.
• Recent analyst actions have been mixed, including Citigroup trimming its target to $65 while keeping a buy rating, and Weiss Ratings and Wall Street Zen issuing or downgrading to sell ratings.
• The stock fell to $24.28 in recent trading, and Bullish also reported quarterly earnings of $0.13 per share, below estimates, even as revenue rose 48.8% year over year to $92.83 million.

Shares of Bullish (NYSE:BLSH - Get Free Report) have earned an average rating of "Hold" from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $50.6667.

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of Bullish from $67.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Weiss Ratings reissued a "sell (d)" rating on shares of Bullish in a research report on Wednesday, June 24th. Rosenblatt Securities increased their target price on shares of Bullish from $39.00 to $45.00 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $61.00 price target on shares of Bullish in a report on Friday, May 15th. Finally, Wall Street Zen cut shares of Bullish from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th.

Insider Transactions 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 value of $3,516,000.00. Following the transaction, the chief executive officer directly owned 80,000 shares in the company, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Bullish

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Essential Partners LLC purchased a new position in shares of Bullish during the 1st quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in Bullish during the fourth quarter worth about $28,000. Strs Ohio acquired a new stake in Bullish during the fourth quarter worth about $30,000. MetLife Investment Management LLC purchased a new position in Bullish during the fourth quarter valued at approximately $30,000. Finally, Kestra Advisory Services LLC purchased a new position in Bullish during the fourth quarter valued at approximately $61,000.

Bullish Stock Performance

BLSH stock traded down $0.52 on Friday, hitting $24.28. The company had a trading volume of 830,520 shares, compared to its average volume of 1,589,436. The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. Bullish has a 12-month low of $21.76 and a 12-month high of $118.00. The stock has a market cap of $3.66 billion and a price-to-earnings ratio of -3.71. The stock's 50-day simple moving average is $30.99 and its 200 day simple moving average is $34.66.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The firm had revenue of $92.83 million for the quarter. The company's revenue was up 48.8% compared to the same quarter last year. As a group, equities research analysts expect that Bullish will post 0.6 earnings per share for the current fiscal year.

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.

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