Bullish (NYSE:BLSH) Stock Falls 5.3% - Should You Sell?

Key Points

• Bullish shares fell 5.3% to about $27.94 on below-average trading volume, bringing the stock well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, six rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $44.36.
• Bullish’s latest quarterly results met expectations with $0.09 EPS and $92.62 million in revenue, up 62.5% year over year, but the company continues to report a deeply negative net margin of 389.38%.

Bullish (NYSE:BLSH - Get Free Report) shares were down 5.3% on Monday. The company traded as low as $27.83 and last traded at $27.9410. Approximately 695,064 shares were traded during trading, a decline of 57% from the average session volume of 1,598,408 shares. The stock had previously closed at $29.49.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded Bullish from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Citigroup restated a "buy" rating on shares of Bullish in a report on Monday, July 27th. Canaccord Genuity Group restated a "buy" rating and set a $45.00 target price on shares of Bullish in a research report on Wednesday, September 23rd. UBS Group set a $43.00 target price on Bullish in a research report on Monday, September 21st. Finally, Zacks Research raised Bullish from a "strong sell" rating to a "hold" rating in a research note on Monday, August 31st. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $44.36.

Bullish Trading Down 5.2%

The company has a market capitalization of $4.22 billion, a P/E ratio of -3.02 and a beta of 0.70. 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 business's 50-day moving average price is $32.83 and its two-hundred day moving average price is $31.83.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The business had revenue of $92.62 million during the quarter. The business's quarterly revenue was up 62.5% on a year-over-year basis. As a group, analysts forecast that Bullish will post 0.46 EPS for the current fiscal year.

Institutional Trading of Bullish

Several hedge funds have recently bought and sold shares of the stock. Amova Asset Management Americas Inc. grew its holdings in shares of Bullish by 51.9% during the first quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company's stock worth $137,139,000 after buying an additional 1,311,243 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Bullish by 51.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company's stock worth $136,985,000 after buying an additional 1,304,573 shares during the last quarter. Galaxy Digital Inc. bought a new position in shares of Bullish in the 1st quarter valued at about $22,331,000. Stephens Investment Management Group LLC grew its holdings in shares of Bullish by 38.6% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,178,599 shares of the company's stock valued at $42,111,000 after acquiring an additional 328,351 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Bullish in the first quarter valued at about $7,830,000.

Bullish Company Profile

Bullish is a digital asset financial services company that operates a regulated cryptocurrency exchange and related market infrastructure. Its platform is designed to serve institutional and professional investors by providing access to spot digital asset trading, custody, lending and other trading services.

The company also develops technology intended to support deeper liquidity, transparent price discovery and efficient execution in cryptocurrency markets. Bullish has operated internationally, serving customers and market participants across multiple global jurisdictions, subject to applicable regulatory requirements.

Bullish was established in 2021 with backing from Block.one and other investors.

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