Bullish (NYSE:BLSH) Given Consensus Recommendation of “Hold” by Brokerages

Bullish (NYSE:BLSH) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $50.6667.

BLSH has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. Cantor Fitzgerald raised their target price on Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $61.00 target price on shares of Bullish in a research note on Friday, May 15th. JPMorgan Chase & Co. cut their target price 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, Wall Street Zen cut Bullish from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th.

Insider Transactions at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of Bullish stock in a transaction 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 completion of the sale, the chief executive officer directly owned 80,000 shares of the company’s stock, valued at approximately $3,516,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Bullish

Several hedge funds have recently bought and sold shares of BLSH. Envestnet Asset Management Inc. acquired a new position in Bullish during the 3rd quarter worth about $999,000. Ameritas Advisory Services LLC acquired a new position in Bullish during the 3rd quarter worth about $29,000. JPMorgan Chase & Co. acquired a new position in Bullish during the 3rd quarter worth about $9,864,000. Readystate Asset Management LP acquired a new position in Bullish during the 3rd quarter worth about $1,590,000. Finally, CenterBook Partners LP acquired a new position in Bullish during the 3rd quarter worth about $1,184,000.

Bullish Price Performance

NYSE:BLSH opened at $24.98 on Wednesday. Bullish has a one year low of $23.50 and a one year high of $118.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42. The stock has a market cap of $3.77 billion and a PE ratio of -3.81. The stock has a 50 day moving average price of $35.24 and a 200 day moving average price of $36.44.

Bullish (NYSE:BLSH) last posted 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). The business had revenue of $92.83 million for the quarter. Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The firm’s revenue was up 48.8% on a year-over-year basis. Equities research analysts expect that Bullish will post 0.6 EPS for the current fiscal year.

About Bullish

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.