Amova Asset Management Americas Inc. Takes Position in Bullish $BLSH

Key Points

• Amova Asset Management Americas opened a new position in Bullish (NYSE: BLSH), buying 1,437,368 shares worth about $91.43 million
• Bullish reported an EPS loss of ($3.73), missing the $0.16 estimate by $3.89 despite revenue growing 67.6% year-over-year to $92.5 million, leaving profitability metrics negative (ROE -10.58%, net margin -0.95%).
• Wall Street is mixed with a consensus rating of Hold and a $52.08 target; the stock trades near $36.94, below its 200-day moving average ($46.70) and well under its 52-week high of $118.00.

Amova Asset Management Americas Inc. acquired a new position in shares of Bullish (NYSE:BLSH - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,437,368 shares of the company's stock, valued at approximately $91,431,000. Amova Asset Management Americas Inc. owned approximately 0.98% of Bullish as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nwam LLC purchased a new stake in Bullish in the third quarter valued at approximately $4,540,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Bullish during the 3rd quarter valued at approximately $91,782,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Bullish in the 3rd quarter valued at $2,723,000. Renaissance Capital LLC acquired a new stake in shares of Bullish in the third quarter worth $2,436,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Bullish during the third quarter worth $7,034,000.

Bullish Stock Performance

BLSH opened at $36.94 on Thursday. The firm's fifty day simple moving average is $34.93 and its two-hundred day simple moving average is $46.70. Bullish has a 52-week low of $24.79 and a 52-week high of $118.00. The company has a market cap of $5.40 billion and a price-to-earnings ratio of 369.40. The company has a quick ratio of 27.69, a current ratio of 29.28 and a debt-to-equity ratio of 0.15.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($3.89). Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The company had revenue of $92.50 million for the quarter. During the same period in the previous year, the business posted $1.37 EPS. The firm's revenue was up 67.6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BLSH shares. JPMorgan Chase & Co. cut their price target on Bullish from $42.00 to $41.00 and set a "neutral" rating on the stock in a research report on Friday, February 6th. Wall Street Zen upgraded Bullish from a "sell" rating to a "hold" rating in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft upgraded Bullish from a "hold" rating to a "buy" rating and reduced their price target for the company from $52.00 to $51.00 in a research report on Wednesday, November 19th. Sanford C. Bernstein restated a "market perform" rating and issued a $50.00 price objective on shares of Bullish in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Bullish in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bullish presently has a consensus rating of "Hold" and a consensus target price of $52.08.

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.

Want to see what other hedge funds are holding BLSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bullish (NYSE:BLSH - Free Report).

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.