Bullish $BLSH Shares Bought by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. grew its holdings in Bullish (NYSE:BLSH) by 51.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,836,063 shares of the company’s stock after buying an additional 1,311,243 shares during the quarter. Bullish accounts for 1.9% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 15th largest position. Amova Asset Management Americas Inc.’s holdings in Bullish were worth $137,139,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in Bullish in the 4th quarter worth $28,000. MetLife Investment Management LLC purchased a new stake in shares of Bullish during the fourth quarter worth about $30,000. Strs Ohio acquired a new position in shares of Bullish during the 4th quarter worth about $30,000. Allworth Financial LP acquired a new position in shares of Bullish during the 3rd quarter worth about $65,000. Finally, IFP Advisors Inc purchased a new position in Bullish in the 3rd quarter valued at about $89,000.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLSH. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. Zacks Research downgraded Bullish from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $61.00 price target on shares of Bullish in a research note on Friday, May 15th. JPMorgan Chase & Co. reduced their price objective on Bullish from $43.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, June 16th. Finally, Rosenblatt Securities raised their price objective on Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bullish has an average rating of “Hold” and an average price target of $50.67.

Bullish Stock Performance

Shares of Bullish stock opened at $22.73 on Tuesday. The business’s 50 day moving average price is $28.70 and its 200 day moving average price is $33.83. The company has a market cap of $3.43 billion and a price-to-earnings ratio of -3.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42. Bullish has a one year low of $21.76 and a one year high of $118.00.

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

Insider Activity

In related news, CEO Thomas W. Farley sold 80,000 shares of the firm’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 completion of the sale, the chief executive officer directly owned 80,000 shares in the company, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.