Brokerages Set Bullish (NYSE:BLSH) PT at $50.67

Bullish (NYSE:BLSH) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $50.6667.

Several equities analysts have recently weighed in on BLSH shares. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research report on Wednesday, June 24th. Zacks Research downgraded Bullish from a “hold” rating to a “strong sell” rating in a research report on Monday. Cantor Fitzgerald lifted their price objective on shares of Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Wall Street Zen cut shares of Bullish from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $61.00 target price on shares of Bullish in a research note on Friday, May 15th.

Bullish Trading Down 7.0%

BLSH opened at $23.38 on Friday. The stock has a 50-day moving average of $29.54 and a 200 day moving average of $34.07. The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. Bullish has a 12 month low of $21.76 and a 12 month high of $118.00. The firm has a market cap of $3.53 billion and a P/E ratio of -3.57.

Bullish (NYSE:BLSH) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (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 negative net margin of 314.40% and a positive return on equity of 1.82%. The company’s quarterly revenue was up 48.8% compared to the same quarter last year. As a group, research analysts forecast that Bullish will post 0.57 EPS for the current year.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Broader crypto sentiment improved after softer inflation data helped lift Bitcoin and other major tokens, which can support companies tied to digital-asset trading and market activity. Article: Bitcoin, Ethereum, XRP, Dogecoin Jump as Softer Inflation Dims Rate Hike Odds
• Neutral Sentiment: BlackRock CEO Larry Fink said he is “very bullish” on markets and noted that crypto markets appear more stable after leverage has washed out, a generally constructive backdrop for the sector. Article: Blackrock CEO Larry Fink ‘Very Bullish’ on Markets as Bitcoin Stabilizes
• Negative Sentiment: Zacks Research downgraded Bullish (BLSH) from “hold” to “strong sell,” which likely weighed on the stock and reinforced cautious investor sentiment. Article: Bullish was downgraded by Zacks Research

Insider Activity at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were 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 approximately $3,516,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of Bullish

Several institutional investors have recently added to or reduced their stakes in BLSH. Essential Partners LLC purchased a new position in shares of Bullish during the first quarter valued at approximately $27,000. Rakuten Securities Inc. purchased a new stake in shares of Bullish in the fourth quarter worth approximately $28,000. Strs Ohio purchased a new stake in shares of Bullish in the fourth quarter worth approximately $30,000. MetLife Investment Management LLC bought a new stake in shares of Bullish during the 4th quarter worth approximately $30,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Bullish during the 4th quarter worth approximately $61,000.

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.