Van ECK Associates Corp Takes $43.47 Million Position in Bullish $BLSH

Van ECK Associates Corp bought a new position in shares of Bullish (NYSE:BLSH) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 683,430 shares of the company’s stock, valued at approximately $43,473,000. Van ECK Associates Corp owned approximately 0.47% of Bullish as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Bullish during the 3rd quarter worth approximately $91,782,000. Nwam LLC bought a new position in Bullish in the third quarter worth $4,540,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Bullish during the third quarter worth $2,723,000. Monashee Investment Management LLC bought a new stake in Bullish in the 3rd quarter valued at $3,180,000. Finally, Renaissance Capital LLC bought a new stake in Bullish in the 3rd quarter valued at $2,436,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on BLSH shares. Wall Street Zen raised shares of Bullish from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research report on Monday, December 29th. Rosenblatt Securities cut their price target on shares of Bullish from $52.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft raised Bullish from a “hold” rating to a “buy” rating and decreased their price objective for the company from $52.00 to $51.00 in a report on Wednesday, November 19th. Finally, Citigroup dropped their target price on Bullish from $77.00 to $67.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.08.

Bullish Stock Up 1.4%

BLSH opened at $37.23 on Thursday. The firm has a market cap of $5.44 billion and a price-to-earnings ratio of 372.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28. The firm’s 50-day simple moving average is $34.51 and its 200-day simple moving average is $45.69. Bullish has a twelve month low of $24.79 and a twelve month high of $118.00.

Bullish (NYSE:BLSH) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($3.89). The firm had revenue of $92.50 million for the quarter. Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The firm’s revenue was up 67.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 earnings per share.

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.