Harvest Portfolios Group Inc. Invests $1.99 Million in Bullish $BLSH

Key Points

• Harvest Portfolios Group disclosed a new fourth-quarter position in Bullish, buying 52,553 shares worth about $1.99 million.
• Wall Street sentiment on Bullish is mixed: analysts currently average a Hold rating with a consensus price target of $51.92, though several firms still have Buy or equivalent ratings.
• Bullish reported 48.8% revenue growth to $92.83 million in the latest quarter, but earnings came in below expectations at $0.13 EPS vs. $0.17 expected, keeping the fundamental outlook mixed.

Harvest Portfolios Group Inc. acquired a new position in Bullish (NYSE:BLSH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 52,553 shares of the company's stock, valued at approximately $1,990,000.

Other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of Bullish in the third quarter worth $29,000. CWM LLC bought a new stake in shares of Bullish in the third quarter worth $31,000. 10Elms LLP bought a new stake in shares of Bullish in the third quarter worth $32,000. Tsfg LLC bought a new stake in shares of Bullish in the third quarter worth $45,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Bullish in the fourth quarter worth $28,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on BLSH shares. Wall Street Zen raised shares of Bullish from a "sell" rating to a "hold" rating in a research report on Monday, February 23rd. Rosenblatt Securities upped their price target on shares of Bullish from $39.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 13th. Citigroup dropped their price target on shares of Bullish from $67.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $61.00 price target on shares of Bullish in a research report on Friday, May 15th. Finally, Cantor Fitzgerald upped their price target on shares of Bullish from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $51.92.

Key Headlines Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: ARK Invest added roughly 122,000 shares of Bullish, a vote of confidence that helped lift sentiment around the stock. Cathie Wood Invests $2.5M in Bullish Stock (BLSH) and Trims Stake in Streaming Giant Roku (ROKU)
• Positive Sentiment: The stock is also benefiting from commentary that analysts see meaningful upside from current levels, reinforcing the idea that the recent weakness may be overdone. Bullish (BLSH) Stock Climbs 4% as Cathie Wood’s Ark Invest Scoops Up Shares
• Neutral Sentiment: Bullish recently reported quarterly revenue growth, but earnings missed expectations, which keeps the fundamental picture mixed for investors.

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $43.95, for a total value of $3,516,000.00. Following the transaction, the chief executive officer directly owned 80,000 shares of the company's stock, valued at $3,516,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bullish Trading Up 2.0%

BLSH stock opened at $36.97 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The company has a fifty day moving average price of $38.95 and a two-hundred day moving average price of $38.72. Bullish has a one year low of $24.79 and a one year high of $118.00. The stock has a market cap of $5.58 billion and a price-to-earnings ratio of -5.64.

Bullish (NYSE:BLSH - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business's revenue for the quarter was up 48.8% compared to the same quarter last year. Equities analysts anticipate that Bullish will post 0.73 EPS 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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