Canaccord Genuity Group Lowers Bullish (NYSE:BLSH) Price Target to $45.00

Bullish (NYSE:BLSH) had its price objective dropped by Canaccord Genuity Group from $50.00 to $45.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 77.30% from the company’s current price.

Several other brokerages 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 research note on Friday, May 15th. Cantor Fitzgerald raised their price objective on Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. dropped their target price on shares of Bullish from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. Finally, Rosenblatt Securities cut their price objective on shares of Bullish from $42.50 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Four equities research 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 data from MarketBeat, Bullish currently has a consensus rating of “Hold” and a consensus target price of $48.92.

Bullish Trading Up 4.1%

Bullish stock traded up $0.99 during trading on Monday, hitting $25.38. The company’s stock had a trading volume of 1,920,982 shares, compared to its average volume of 1,655,889. The stock’s fifty day moving average is $24.48 and its 200 day moving average is $31.84. The stock has a market capitalization of $3.83 billion and a price-to-earnings ratio of -2.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 22.41 and a current ratio of 23.52. Bullish has a 1-year low of $20.55 and a 1-year high of $74.98.

Bullish (NYSE:BLSH) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Bullish had a positive return on equity of 2.48% and a negative net margin of 389.38%.The business had revenue of $92.62 million for the quarter. The firm’s quarterly revenue was up 62.5% on a year-over-year basis. As a group, equities research analysts predict that Bullish will post 0.49 EPS for the current year.

Institutional Trading of Bullish

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

Key Bullish News

Here are the key news stories impacting Bullish this week:

• Negative Sentiment: JPMorgan Chase cut its price target for Bullish to $25, indicating more limited expected upside from recent trading levels. JPMorgan Chase Cuts Bullish Price Target to $25.00
• Negative Sentiment: Rosenblatt Securities also lowered its Bullish price target, setting it at $30. The second target reduction adds to investor concern that analysts are reassessing the company’s growth outlook. Rosenblatt Securities Cuts Bullish Price Target to $30.00
• Negative Sentiment: Bullish stock was reported down 9.4% following an analyst downgrade, suggesting that the target cuts and broader analyst caution are significant drivers of recent selling pressure. Bullish Stock Price Down 9.4% on Analyst Downgrade

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.