Bullish (NYSE:BLSH) Short Interest Up 23.7% in December

Bullish (NYSE:BLSH) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 7,153,318 shares, an increase of 23.7% from the December 15th total of 5,781,683 shares. Based on an average daily trading volume, of 1,593,888 shares, the short-interest ratio is currently 4.5 days. Approximately 4.9% of the shares of the stock are short sold. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,593,888 shares, the short-interest ratio is currently 4.5 days.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BLSH. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a report on Monday, December 29th. Sanford C. Bernstein restated a “market perform” rating and issued a $50.00 target price on shares of Bullish in a research report on Tuesday, January 6th. Rosenblatt Securities decreased their price target on Bullish from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. Canaccord Genuity Group lowered their price target on Bullish from $68.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Finally, Wall Street Zen lowered Bullish from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.58.

Bullish Stock Performance

Shares of NYSE:BLSH traded up $1.31 during midday trading on Monday, reaching $39.01. The company had a trading volume of 1,141,101 shares, compared to its average volume of 1,276,629. The company has a fifty day simple moving average of $41.57. The company has a market capitalization of $5.70 billion and a price-to-earnings ratio of 1,950.50. Bullish has a 1-year low of $34.24 and a 1-year high of $118.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 36.58 and a current ratio of 38.78.

Institutional Investors Weigh In On Bullish

Large investors have recently made changes to their positions in the company. Tradewinds Capital Management LLC acquired a new position in Bullish in the 3rd quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in Bullish during the 3rd quarter valued at $29,000. CWM LLC purchased a new stake in shares of Bullish in the third quarter valued at $31,000. 10Elms LLP purchased a new stake in shares of Bullish in the third quarter valued at $32,000. Finally, Tsfg LLC acquired a new stake in shares of Bullish in the third quarter worth $45,000.

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.