Wall Street Zen Downgrades Bullish (NYSE:BLSH) to Sell

Bullish (NYSE:BLSH) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

A number of other research firms have also weighed in on BLSH. Citigroup lowered their target price on Bullish from $77.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Canaccord Genuity Group decreased their price target on Bullish from $68.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Deutsche Bank Aktiengesellschaft raised Bullish from a “hold” rating to a “buy” rating and dropped their price objective for the company from $52.00 to $51.00 in a research note on Wednesday, November 19th. Rosenblatt Securities decreased their target price on shares of Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bullish currently has an average rating of “Hold” and an average price target of $52.08.

Bullish Stock Performance

Shares of Bullish stock opened at $31.74 on Friday. 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 has a 52-week low of $24.79 and a 52-week high of $118.00. The firm has a fifty day simple moving average of $37.68. The stock has a market cap of $4.64 billion and a PE ratio of 317.39.

Bullish (NYSE:BLSH) last issued its earnings results on Thursday, February 5th. The company reported ($3.73) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $92.50 million during the quarter. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm’s revenue for the quarter was up 67.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC bought a new stake in shares of Bullish during the third quarter valued at approximately $163,904,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Bullish during the 3rd quarter valued at $92,824,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Bullish in the 3rd quarter worth about $91,782,000. Amova Asset Management Americas Inc. bought a new position in shares of Bullish in the 3rd quarter worth about $91,431,000. Finally, Invesco Ltd. purchased a new position in Bullish during the 3rd quarter valued at about $74,658,000.

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.