Bullish (NYSE:BLSH) Short Interest Update

Key Points

• Short interest rose 17.3% in April, reaching 8,822,616 shares (5.8% of shares sold short) with a days-to-cover ratio of 8.6.
• CEO Thomas W. Farley sold 80,000 shares at an average price of $36.41 on April 10 (≈$2.91M), trimming his ownership by about 1.6%.
• Analysts have a consensus “Hold” rating with a $51.92 target; the company reported a large EPS miss (‑$3.73 vs $0.16 expected) while revenue rose 67.6% year-over-year.

Bullish (NYSE:BLSH - Get Free Report) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 8,822,616 shares, an increase of 17.3% from the March 31st total of 7,522,811 shares. Currently, 5.8% of the shares of the stock are sold short. Based on an average daily volume of 1,024,234 shares, the days-to-cover ratio is currently 8.6 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Bullish from a "sell" rating to a "hold" rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. reduced their target price on shares of Bullish from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, February 6th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $39.00 target price on shares of Bullish in a research note on Thursday, April 9th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $50.00 target price on shares of Bullish in a research note on Tuesday, January 6th. Finally, Citigroup reduced their target price on shares of Bullish from $67.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bullish has a consensus rating of "Hold" and a consensus target price of $51.92.

Insider Buying and Selling

In other 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 transaction, the chief executive officer owned 4,923,386 shares of the company's stock, valued at $179,260,484.26. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Bullish

Hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Bullish during the third quarter worth about $91,782,000. Nwam LLC acquired a new stake in shares of Bullish during the third quarter worth about $4,540,000. WINTON GROUP Ltd acquired a new stake in shares of Bullish during the third quarter worth about $7,099,000. Monashee Investment Management LLC acquired a new stake in shares of Bullish during the third quarter worth about $3,180,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Bullish in the 3rd quarter valued at approximately $2,723,000.

Bullish Price Performance

Shares of BLSH opened at $36.51 on Thursday. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00. The stock has a market cap of $5.51 billion and a P/E ratio of 365.07. The stock's 50-day moving average price is $37.11 and its two-hundred day moving average price is $40.25.

Bullish (NYSE:BLSH - Get Free Report) last issued its earnings results 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 company had revenue of $92.51 million for the quarter. Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The company's revenue was up 67.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. On average, equities analysts predict that Bullish will post 0.82 earnings per share for the current year.

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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