Bullish (NYSE:BLSH) Short Interest Update

Key Points

• Short interest in Bullish (NYSE:BLSH) fell 21.8% in March to 7,522,811 shares, equal to 5.0% of the stock and a days‑to‑cover ratio of 5.4.
• Bullish reported a surprise quarterly EPS loss of ($3.73) versus a $0.16 consensus, leaving the company with negative net margin and ROE despite revenue growing 67.6% year‑over‑year.
• CEO Thomas W. Farley sold 80,000 shares (~$2.9M) in April, while analysts are mixed overall with an average rating of "Hold" and a mean price target of $51.92.

Bullish (NYSE:BLSH - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 7,522,811 shares, a decrease of 21.8% from the March 15th total of 9,613,936 shares. Based on an average daily trading volume, of 1,382,313 shares, the days-to-cover ratio is presently 5.4 days. Currently, 5.0% of the company's stock are sold short.

Bullish Stock Up 4.4%

Shares of NYSE:BLSH opened at $40.67 on Wednesday. The company has a market capitalization of $6.13 billion and a PE ratio of 406.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 29.28 and a quick ratio of 27.69. The business has a fifty day moving average price of $34.75 and a two-hundred day moving average price of $41.92. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00.

Bullish (NYSE:BLSH - Get Free Report) last announced its quarterly earnings data on Friday, February 6th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($3.89). The business had revenue of $92.51 million during the quarter. Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. Bullish's revenue for the quarter was up 67.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS.

Insider Transactions at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of the company's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $36.41, for a total transaction of $2,912,800.00. Following the completion of the sale, the chief executive officer owned 4,923,386 shares in the company, valued at approximately $179,260,484.26. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BLSH. Tradewinds Capital Management LLC bought a new position in shares of Bullish during the 3rd quarter worth $25,000. Rakuten Securities Inc. bought a new position in shares of Bullish during the 4th quarter worth $28,000. Ameritas Advisory Services LLC bought a new position in shares of Bullish during the 3rd quarter worth $29,000. Strs Ohio bought a new position in shares of Bullish during the 4th quarter worth $30,000. Finally, MetLife Investment Management LLC bought a new position in shares of Bullish during the 4th quarter worth $30,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLSH. Weiss Ratings reiterated a "sell (d)" rating on shares of Bullish in a report on Friday, March 27th. Wall Street Zen upgraded Bullish from a "sell" rating to a "hold" rating in a research note on Monday, February 23rd. Citigroup reduced their price objective on Bullish from $67.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, March 18th. JPMorgan Chase & Co. reduced their price objective on Bullish from $42.00 to $41.00 and set a "neutral" rating for the company in a research note on Friday, February 6th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $50.00 price objective on shares of Bullish in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $51.92.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Market risk-on backdrop is supporting fintech and crypto-related equities, creating a tailwind for trading-platform names like Bullish. Stock Market Today: SPY, QQQ Rebound
• Positive Sentiment: Software and tech stocks are showing renewed strength, which often lifts platform and exchange-related names by proxy; that sector momentum is a likely driver behind the stock’s upside. Software Stocks Are Rallying Again – and That’s Bullish for the Market
• Neutral Sentiment: New thematic ETFs and greater appetite for speculative/leveraged products (e.g., space/2x ETFs) signal higher risk tolerance, which can indirectly boost volume and margins for trading platforms, but the benefit is indirect and potentially short-lived. Bullish On Space Stocks? This New 2X ETF XAIL
• Neutral Sentiment: Institutional ownership is present and mixed — some large funds hold new positions in BLSH, which supports liquidity but does not guarantee directional momentum. Bullish MarketBeat Profile
• Negative Sentiment: CEO Thomas Farley sold 80,000 shares (~$2.9M) in early April. Insider sales can weigh on sentiment even if they’re small relative to total holdings. Insider Selling: Bullish CEO Sells 80,000 Shares
• Negative Sentiment: Fundamentals remain a concern after a sizeable EPS miss for the most recent quarter (reported loss vs. modest consensus), along with negative margins and ROE; disappointing earnings raise downside risk if the market rally fades. Bullish MarketBeat Profile (earnings summary)

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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