Bullish (NYSE:BLSH) Lowered to Sell Rating by Wall Street Zen

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

Other analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price target on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Citigroup cut their price target on Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $61.00 price target on shares of Bullish in a research note on Friday, May 15th. Finally, Cantor Fitzgerald lifted their price target on Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.92.

Bullish Stock Performance

Bullish stock opened at $27.05 on Friday. Bullish has a 12-month low of $24.79 and a 12-month high of $118.00. The company has a quick ratio of 25.23, a current ratio of 26.42 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $37.69 and its two-hundred day moving average price is $37.70. The stock has a market cap of $4.08 billion and a PE ratio of -4.13.

Bullish (NYSE:BLSH) last released its earnings results 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). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business had revenue of $92.83 million during the quarter. The company’s revenue was up 48.8% on a year-over-year basis. As a group, analysts expect that Bullish will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of Bullish stock in a transaction that occurred on 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 directly owned 80,000 shares of the company’s stock, valued at $3,516,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Bullish

A number of hedge funds and other institutional investors have recently made changes to their positions in BLSH. Principal Financial Group Inc. acquired a new position in shares of Bullish in the third quarter worth approximately $7,034,000. Envestnet Asset Management Inc. acquired a new position in shares of Bullish in the third quarter worth approximately $999,000. SBI Securities Co. Ltd. acquired a new position in shares of Bullish in the third quarter worth approximately $903,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Bullish in the third quarter worth approximately $227,000. Finally, Ameritas Advisory Services LLC acquired a new position in Bullish in the third quarter valued at approximately $29,000.

Bullish News Summary

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bitcoin is gaining attention as it tests a major technical support level while the crypto industry could soon benefit from a favorable regulatory catalyst in Washington, which may support sentiment for crypto-linked names like Bullish. Bitcoin’s Most Bullish Technical Signal Meets Crypto’s Biggest Regulatory Catalyst
• Positive Sentiment: Broader market articles highlight analysts turning bullish on select stocks and sectors, reinforcing a risk-on tone that can indirectly help investor appetite for higher-volatility names. 12% Yield and Double-Digit Upside: Why Analysts Are Bullish on This S&P 500 ETF
• Neutral Sentiment: Several articles focus on analyst upgrades and bullish calls for other companies such as Tesla, Broadcom, Oracle, Adobe, and telehealth stocks, but they do not directly affect Bullish’s fundamentals. Good News, Elon: JPMorgan’s New Tesla Analyst Just Ditched Years Of Bearish Calls And Flipped Bullish
• Negative Sentiment: One market strategist warned that even after a strong bullish run, equities could move into a correction or bear market phase, which may pressure speculative and recently weak stocks like Bullish. One of Wall Street’s Most Bullish Market Strategists Sees a 3-Phased Market Coming That Includes a Correction or Bear Market

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.