Intrinsic Edge Capital Management LLC Invests $7.83 Million in Bullish $BLSH

Key Points

• Intrinsic Edge Capital Management bought 219,154 Bullish shares worth approximately $7.83 million, making BLSH its 22nd-largest holding and representing a 0.15% stake in the company.
• Analyst sentiment is mixed: four analysts rate Bullish a Buy, seven rate it Hold and two rate it Sell. The consensus rating is Hold, with a $50.67 price target, while JPMorgan recently cut its target to $26.
• Bullish reported quarterly revenue of $92.83 million, up 48.8% year over year, but missed earnings expectations with $0.13 per share versus $0.17 forecast. The stock opened at $21.79, near its 52-week low of $21.73, and CEO Thomas Farley sold $3.52 million worth of shares.

Intrinsic Edge Capital Management LLC bought a new stake in shares of Bullish (NYSE:BLSH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 219,154 shares of the company's stock, valued at approximately $7,830,000. Bullish comprises approximately 1.3% of Intrinsic Edge Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. Intrinsic Edge Capital Management LLC owned 0.15% of Bullish at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC purchased a new position in Bullish during the third quarter worth $2,189,000. Private Advisor Group LLC purchased a new stake in shares of Bullish in the third quarter valued at $223,000. Legal & General Group Plc purchased a new stake in shares of Bullish in the third quarter valued at $213,000. Franklin Resources Inc. bought a new stake in shares of Bullish in the 3rd quarter worth about $2,544,000. Finally, UBS Group AG bought a new stake in shares of Bullish in the 3rd quarter worth about $14,211,000.

Analyst Ratings Changes

Several brokerages have issued reports on BLSH. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $61.00 price objective on shares of Bullish in a research note on Friday, May 15th. Citigroup reiterated a "buy" rating on shares of Bullish in a report on Monday. Cantor Fitzgerald raised their price target on Bullish from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, May 15th. Weiss Ratings restated a "sell (d)" rating on shares of Bullish in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. cut their price objective on Bullish from $43.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $50.67.

Bullish Price Performance

Bullish stock opened at $21.79 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 stock has a market cap of $3.29 billion and a price-to-earnings ratio of -3.33. The firm has a 50-day moving average of $26.61 and a two-hundred day moving average of $33.03. Bullish has a 1 year low of $21.73 and a 1 year high of $118.00.

Bullish (NYSE:BLSH - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The company had revenue of $92.83 million for the quarter. Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The business's revenue for the quarter was up 48.8% compared to the same quarter last year. On average, research analysts forecast that Bullish will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In other Bullish news, CEO Thomas W. Farley sold 80,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the transaction, the chief executive officer directly owned 80,000 shares in the company, valued at $3,516,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Crypto influencer Ansem expressed strong optimism about Bitcoin, Solana and broader digital-asset adoption, citing improving infrastructure and long-term innovation. Positive sentiment toward cryptocurrency markets could indirectly benefit Bullish’s digital-asset trading and exchange business, although the article does not mention BLSH specifically. “I've Never Been This Bullish,” Says Top Crypto Influencer
• Neutral Sentiment: Jensen Huang’s bullish outlook on artificial-intelligence spending reinforces optimism around technology and growth stocks, but Nvidia’s prospects do not provide a direct catalyst for Bullish. Jensen Huang’s Bullish Call on the AI Market
• Neutral Sentiment: Analyst coverage and rating changes for Micron, First Solar, Palantir, CrowdStrike, Caterpillar, Clorox and other companies are unrelated to Bullish’s operations or valuation. Recent analyst coverage

About Bullish

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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