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

Wall Street Zen cut shares of Bullish (NYSE:BLSH) from a hold rating to a sell rating in a report released on Sunday morning.

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

Bullish Price Performance

Shares of Bullish stock opened at $22.68 on Friday. 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 52-week low of $21.76 and a 52-week high of $118.00. The company has a fifty day moving average of $26.91 and a 200-day moving average of $33.16. The stock has a market capitalization of $3.42 billion and a price-to-earnings ratio of -3.46.

Bullish (NYSE:BLSH) last issued its earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $92.83 million during the quarter. The business’s revenue was up 48.8% on a year-over-year basis. Equities research analysts expect that Bullish will post 0.54 EPS for the current year.

Insider Transactions at Bullish

In other Bullish news, CEO Thomas W. Farley sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the completion of the transaction, the chief executive officer owned 80,000 shares of the company’s stock, valued at $3,516,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Bullish

Several hedge funds have recently made changes to their positions in BLSH. Rakuten Securities Inc. purchased a new stake in Bullish in the fourth quarter worth $28,000. Essential Partners LLC purchased a new position in Bullish during the 1st quarter valued at $27,000. MetLife Investment Management LLC purchased a new position in Bullish during the 4th quarter valued at $30,000. Strs Ohio bought a new position in Bullish in the 4th quarter worth $30,000. Finally, Allworth Financial LP bought a new position in Bullish in the 3rd quarter worth $65,000.

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.