Bullish (NYSE:BLSH) Shares Up 13% – Here’s Why

Bullish (NYSE:BLSH)’s share price was up 13% during mid-day trading on Thursday . The company traded as high as $27.94 and last traded at $27.8240. 557,143 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,624,564 shares. The stock had previously closed at $24.63.

Key Bullish News

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish reported second-quarter revenue of $92.6 million, up 62.5% year over year, while adjusted EBITDA more than tripled to $29.5 million. Record subscription and services revenue of $62.7 million helped offset softer cryptocurrency trading activity. Bullish shares jump 10% as Q2 adjusted EBITDA more than triples
• Positive Sentiment: The company is positioning tokenized equities as a major growth opportunity. Bullish completed the first trades of tokenized shares on a GFSC-regulated digital-asset exchange, offering 24/7 trading and near-instant settlement. The initiative could expand Bullish’s exchange and infrastructure business, although the Equiniti acquisition remains subject to regulatory approval. Peter Thiel-Backed Bullish Sees Tokenized Stocks as a Giant Growth Opportunity
• Neutral Sentiment: Quarterly EPS of $0.09 matched consensus, while the company’s reported revenue also exceeded some estimates. However, analysts expect full-year EPS of approximately $0.52, and profitability remains difficult to assess because reported results were heavily affected by digital-asset valuation changes. Bullish Q2 Earnings and Revenues Top Estimates
• Negative Sentiment: Bullish posted a roughly $280 million net loss, primarily tied to a write-down in the value of its Bitcoin holdings. Quarterly trading volume also declined to $179.6 billion from $197.4 billion a year earlier, raising concerns about the sustainability of exchange-driven revenue. Bullish Stock Gains Despite $280 Million Loss
• Negative Sentiment: JPMorgan cut its Bullish price target from $26 to $25 and maintained a neutral rating. Rosenblatt also lowered its target from $42.50 to $30 and moved to neutral, citing mixed second-quarter results and a weak start to the third quarter. These revisions likely intensified selling pressure and reduced expectations for near-term upside. Bullish Is Pulling Away From Crypto Peers, but a Brutal July Spoils the Party

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BLSH shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $61.00 price target on shares of Bullish in a research report on Friday, May 15th. Cantor Fitzgerald lifted their price objective on shares of Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research report on Wednesday, June 24th. Citigroup restated a “buy” rating on shares of Bullish in a report on Monday, July 27th. Finally, Zacks Research downgraded shares of Bullish from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.33.

Bullish Stock Down 11.4%

The firm has a 50-day moving average of $24.48 and a 200 day moving average of $31.86. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The stock has a market capitalization of $3.67 billion and a price-to-earnings ratio of -2.63.

Bullish (NYSE:BLSH) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $92.62 million during the quarter. Bullish had a positive return on equity of 2.32% and a negative net margin of 389.38%.The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Bullish will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bullish

Several hedge funds and other institutional investors have recently made changes to their positions in BLSH. ARK Investment Management LLC raised its position in Bullish by 87.1% during the fourth quarter. ARK Investment Management LLC now owns 4,821,700 shares of the company’s stock worth $182,598,000 after acquiring an additional 2,244,991 shares in the last quarter. Amova Asset Management Americas Inc. grew its position in shares of Bullish by 51.9% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company’s stock valued at $137,139,000 after acquiring an additional 1,311,243 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Bullish by 51.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock valued at $136,985,000 after acquiring an additional 1,304,573 shares during the period. Invesco Ltd. increased its stake in shares of Bullish by 87.2% during the 4th quarter. Invesco Ltd. now owns 2,197,520 shares of the company’s stock worth $83,220,000 after purchasing an additional 1,023,835 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Bullish by 486.1% during the 4th quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock worth $49,581,000 after purchasing an additional 1,085,846 shares during the last quarter.

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.