Bullish (NYSE:BLSH) Given Average Recommendation of “Hold” by Analysts

Bullish (NYSE:BLSH) has been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $51.9167.

BLSH has been the topic of a number of research reports. Sanford C. Bernstein restated a “market perform” rating and issued a $50.00 price target on shares of Bullish in a report on Tuesday, January 6th. Citigroup reduced their price objective on Bullish from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. dropped their price target on Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th.

Bullish Stock Up 3.6%

BLSH stock opened at $36.33 on Friday. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $33.91 and its 200 day moving average price is $43.55. Bullish has a 52 week low of $24.79 and a 52 week high of $118.00. The company has a market cap of $5.48 billion and a P/E ratio of 363.25.

Bullish (NYSE:BLSH) last issued its earnings results on Friday, February 6th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The company had revenue of $92.51 million during the quarter. During the same period in the previous year, the business posted $1.37 earnings per share. The company’s quarterly revenue was up 67.6% compared to the same quarter last year.

Institutional Trading of Bullish

Several institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Bullish during the 3rd quarter worth approximately $91,782,000. Nwam LLC acquired a new position in shares of Bullish during the 3rd quarter worth approximately $4,540,000. WINTON GROUP Ltd purchased a new stake in Bullish in the 3rd quarter valued at approximately $7,099,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Bullish during the 3rd quarter valued at $2,723,000. Finally, Monashee Investment Management LLC acquired a new stake in Bullish during the 3rd quarter valued at $3,180,000.

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.