Bullish (NYSE:BLSH) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts rate Bullish “Hold” overall: Of 15 brokerages, eight recommend holding, five buying, one strong buying and one selling. Their average 12-month price target is $44.64.
• Shares fell 2.8% to $22.51 in Friday midday trading, near their 52-week low of $20.06 and well below the 52-week high of $48.93.
• Bullish reported quarterly EPS of $0.09, matching estimates, while revenue rose 62.5% year over year to $92.62 million.

Shares of Bullish (NYSE:BLSH - Get Free Report) have received a consensus rating of "Hold" from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $44.64.

BLSH has been the topic of a number of recent research reports. Citigroup reaffirmed a "buy" rating on shares of Bullish in a research report on Monday, July 27th. Wells Fargo & Company lowered their price target on shares of Bullish from $38.00 to $35.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Bullish from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, October 14th. Wall Street Zen raised shares of Bullish from a "sell" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Freedom Capital began coverage on shares of Bullish in a report on Tuesday, November 3rd. They issued a "hold" rating on the stock.

Institutional Trading of Bullish

A number of hedge funds have recently made changes to their positions in BLSH. Amova Asset Management Americas Inc. grew its position in Bullish by 51.9% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company's stock valued at $137,139,000 after purchasing an additional 1,311,243 shares during the last quarter. Voya Investment Management LLC increased its stake in Bullish by 1,009.8% during the 3rd quarter. Voya Investment Management LLC now owns 807,778 shares of the company's stock valued at $28,183,000 after purchasing an additional 734,989 shares in the last quarter. Galaxy Digital Inc. purchased a new position in Bullish in the first quarter worth about $22,331,000. Intrinsic Edge Capital Management LLC purchased a new position in Bullish in the first quarter worth about $7,830,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Bullish by 178.4% in the first quarter. Renaissance Technologies LLC now owns 156,833 shares of the company's stock worth $5,604,000 after buying an additional 100,500 shares in the last quarter.

Recent Bullish Headlines

These are some of the BLSH headlines that stood out recently:

• Positive Sentiment: JPMorgan Chase issued a positive forecast for Bullish shares, offering a favorable analyst signal. The available report does not provide a price target or further rationale. JPMorgan Chase & Co. Issues Positive Forecast for Bullish Stock Price
• Positive Sentiment: Bullish Exchange added USDai and sUSDai, expanding the assets available on its platform. The listing may support exchange activity and product breadth, though the report gives no adoption or revenue estimates. USDai and sUSDai are now live on Bullish Exchange
• Neutral Sentiment: A Zacks article flagged recent options-market activity in BLSH, but the provided summary does not specify the trades’ direction or enough detail to judge their implications. Do Options Traders Know Something About Bullish Stock We Don't?

Bullish Stock Down 2.8%

BLSH stock traded down $0.66 during midday trading on Friday, hitting $22.51. The stock had a trading volume of 1,229,353 shares, compared to its average volume of 1,427,707. The business has a 50-day moving average of $31.03 and a two-hundred day moving average of $31.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 23.52 and a quick ratio of 22.41. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -2.43 and a beta of 1.06. Bullish has a 52-week low of $20.06 and a 52-week high of $48.93.

Bullish (NYSE:BLSH - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Bullish had a positive return on equity of 2.48% and a negative net margin of 389.38%. The business had revenue of $92.62 million during the quarter. Bullish's quarterly revenue was up 62.5% compared to the same quarter last year. As a group, equities research analysts forecast that Bullish will post 0.44 earnings per share for the current fiscal year.

Bullish Company Profile

Bullish is a digital asset company that operates the Bullish exchange, a platform focused on cryptocurrency trading and financial services for institutional and professional clients. Its offerings include spot and derivatives trading, along with related market and liquidity services. The company was founded in 2021 and expanded its digital asset and media businesses through its 2023 acquisition of CoinDesk, which provides cryptocurrency news, data, research and industry events. Bullish serves clients in multiple international markets, subject to local regulations.

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