Bullish (NYSE:BLSH - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.73 and last traded at $21.7920, with a volume of 1380004 shares traded. The stock had previously closed at $22.69.
Wall Street Analyst Weigh In
BLSH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Bullish from $43.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 16th. Wall Street Zen lowered Bullish from a "hold" rating to a "sell" rating in a research report on Sunday. Weiss Ratings reissued a "sell (d)" rating on shares of Bullish in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $61.00 target price on shares of Bullish in a research note on Friday, May 15th. Finally, Citigroup reiterated a "buy" rating on shares of Bullish in a research report on Monday. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $50.67.
Get Our Latest Stock Analysis on BLSH
Bullish Trading Down 4.0%
The firm's 50 day moving average is $26.91 and its 200 day moving average is $33.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The company has a market capitalization of $3.29 billion and a PE ratio of -3.33.
Bullish (NYSE:BLSH - Get Free Report) last issued 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 firm had revenue of $92.83 million for the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The firm's quarterly revenue was up 48.8% compared to the same quarter last year. As a group, equities analysts predict that Bullish will post 0.54 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Thomas W. Farley sold 80,000 shares of Bullish stock in a transaction that occurred 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Institutional Trading of Bullish
Large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC boosted its stake in shares of Bullish by 87.1% during the 4th quarter. ARK Investment Management LLC now owns 4,821,700 shares of the company's stock valued at $182,598,000 after purchasing an additional 2,244,991 shares in the last quarter. Amova Asset Management Americas Inc. raised its stake in Bullish by 51.9% in the first quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company's stock worth $137,139,000 after buying an additional 1,311,243 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Bullish by 51.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company's stock worth $136,985,000 after buying an additional 1,304,573 shares during the period. Invesco Ltd. bought a new stake in Bullish during the 3rd quarter valued at approximately $74,658,000. Finally, UBS Group AG boosted its position in Bullish by 486.1% during the 4th quarter. UBS Group AG now owns 1,309,248 shares of the company's stock valued at $49,581,000 after acquiring an additional 1,085,846 shares in the last quarter.
About Bullish
(
Get Free Report)
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.
Further Reading
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