Bullish (NYSE:BLSH) Cut to Sell at Wall Street Zen

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

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

Bullish Stock Down 1.0%

Shares of BLSH opened at $24.00 on Friday. The company’s 50-day moving average price is $27.44 and its 200 day moving average price is $33.46. Bullish has a 12-month low of $21.76 and a 12-month high of $118.00. The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. The firm has a market cap of $3.62 billion and a P/E ratio of -3.66.

Bullish (NYSE:BLSH) last announced its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The company had revenue of $92.83 million for the quarter. The firm’s revenue for the quarter was up 48.8% on a year-over-year basis. On average, sell-side analysts forecast that Bullish will post 0.54 earnings per share for the current year.

Insider Transactions at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $43.95, for a total value of $3,516,000.00. Following the transaction, the chief executive officer owned 80,000 shares in the company, valued at approximately $3,516,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Bullish

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

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Canaccord Genuity reiterated a Buy rating on Bullish and kept its $50 price target, citing confidence in the company’s tokenization strategy and stablecoin growth. Article: Bullish Buy Rating Reiterated as Tokenization Strategy and Stablecoin Growth Support Unchanged $50 Price Target
• Positive Sentiment: Bullish announced progress on its planned $4.2 billion acquisition of Equiniti, including competition-law clearances in the UK, U.S., and Germany, which reduces regulatory risk and supports the long-term tokenized securities strategy. Article: Bullish announces Siris to acquire non-core Equiniti business lines
• Neutral Sentiment: Siris also agreed to retain Equiniti’s non-core businesses, while the main Bullish-Equiniti deal remains subject to remaining approvals and is expected to close in January 2027. This keeps the strategic deal on track, but completion is still not final. Article: Siris retains UK businesses as Equiniti sold to Bullish in $4.2B deal
• Negative Sentiment: Zacks added BLSH to its Strong Sell list, which likely added downside pressure as investors weigh caution from the ranking service. Article: New Strong Sell Stocks for July 24th
• Negative Sentiment: Broader sentiment may also be weighed down by ongoing concerns about Bullish’s fundamentals and execution, including recent earnings that missed expectations and prior insider selling activity referenced in market data.

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.