31,550 Shares in Bullish $BLSH Acquired by AXQ Capital LP

Key Points

• AXQ Capital LP acquired 31,550 Bullish shares during the second quarter, valued at approximately $739,000. Several other institutional investors also initiated positions in the digital-asset infrastructure company.
• Analyst sentiment remains mixed, with four Buy, eight Hold and one Sell rating. Bullish has an average rating of Hold and a consensus price target of $49.27, despite several analysts recently lowering their targets.
• Bullish reported quarterly revenue of $92.62 million, up 62.5% year over year, and met the $0.09 EPS consensus estimate. However, the company continues to post significant losses, including a negative net margin of 389.38%, while its shares opened at $36.01.

AXQ Capital LP acquired a new stake in Bullish (NYSE:BLSH - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,550 shares of the company's stock, valued at approximately $739,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BLSH. Essential Partners LLC acquired a new stake in shares of Bullish during the first quarter worth about $27,000. Strs Ohio acquired a new position in Bullish during the 4th quarter worth $30,000. MetLife Investment Management LLC acquired a new stake in Bullish in the 4th quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new stake in Bullish in the fourth quarter valued at approximately $61,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Bullish during the 4th quarter worth $78,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BLSH shares. Weiss Ratings lowered Bullish from a "sell (d)" rating to a "sell (e+)" rating in a report on Friday, August 14th. Canaccord Genuity Group cut their price objective on shares of Bullish from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Rosenblatt Securities reduced their price objective on shares of Bullish from $42.50 to $30.00 and set a "neutral" rating for the company in a research report on Friday, August 14th. Wall Street Zen raised Bullish from a "sell" rating to a "hold" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Bullish from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, August 14th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bullish currently has an average rating of "Hold" and a consensus target price of $49.27.

Bullish Trading Up 0.0%

Shares of Bullish stock opened at $36.01 on Monday. The company has a quick ratio of 22.41, a current ratio of 23.52 and a debt-to-equity ratio of 0.20. The company's 50-day simple moving average is $26.27 and its 200-day simple moving average is $31.91. Bullish has a 52-week low of $20.55 and a 52-week high of $74.98. The firm has a market cap of $5.43 billion and a price-to-earnings ratio of -3.89.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $92.62 million during the quarter. The company's revenue for the quarter was up 62.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Bullish will post 0.46 earnings per share for the current year.

Key Headlines Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Expanded institutional crypto offering: Bullish listed STX, the native token of the Stacks network, allowing institutional investors to trade an asset tied to Bitcoin-native decentralized finance and smart-contract applications. The move could broaden Bullish’s digital-asset product range, attract additional institutional volume and strengthen its position in the regulated crypto-exchange market. Bullish lists STX, enabling institutional trading for Bitcoin-native finance
• Neutral Sentiment: The announcement does not include financial guidance or quantify expected trading volume, revenue or profitability benefits. Its impact on BLSH will depend on institutional adoption of STX and broader crypto-market activity.
• Negative Sentiment: Investor caution may reflect Bullish’s continuing losses, including a deeply negative net margin, even though its most recent earnings matched expectations and revenue increased sharply. Newly listed crypto assets also carry market, regulatory and volatility risks.

Bullish 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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