Bullish (NYSE:BLSH) Stock Rating Upgraded by Zacks Research

Bullish (NYSE:BLSH) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other equities analysts have also recently commented on BLSH. Canaccord Genuity Group dropped their price objective on shares of Bullish from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Wall Street Zen raised shares of Bullish from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $61.00 price target on shares of Bullish in a research report on Friday, May 15th. JPMorgan Chase & Co. reduced their price objective on Bullish from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Finally, Rosenblatt Securities decreased their price objective on Bullish from $42.50 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.92.

Bullish Price Performance

Shares of Bullish stock opened at $33.08 on Monday. The company has a market capitalization of $4.99 billion and a price-to-earnings ratio of -3.57. The company has a quick ratio of 22.41, a current ratio of 23.52 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $25.54 and its 200-day simple moving average is $31.84. Bullish has a 52 week low of $20.55 and a 52 week high of $74.98.

Bullish (NYSE:BLSH) last issued its earnings results on Thursday, August 13th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The firm had revenue of $92.62 million during the quarter. The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. As a group, analysts expect that Bullish will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bullish

Large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its position in shares of Bullish by 290.9% in the 2nd quarter. California State Teachers Retirement System now owns 6,865 shares of the company’s stock worth $161,000 after acquiring an additional 5,109 shares in the last quarter. AXQ Capital LP bought a new stake in Bullish during the second quarter valued at about $739,000. Wellington Management Group LLP grew its stake in Bullish by 787.0% in the second quarter. Wellington Management Group LLP now owns 77,829 shares of the company’s stock valued at $1,824,000 after purchasing an additional 69,055 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Bullish in the second quarter worth about $138,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Bullish during the second quarter valued at about $330,000.

Bullish News Summary

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish’s $100 million commitment gives the company exposure to demand for financing backed by high-value graphics processing units, which are increasingly used for AI computing. The initiative could diversify revenue beyond its core digital-asset market infrastructure business and strengthen its positioning in an emerging financial niche. Bullish Commits $100 Million to GPU-Backed AI Loans via USD.AI
• Neutral Sentiment: The investment is a capital deployment rather than immediately reported revenue or earnings, so the financial benefit will depend on loan demand, yields, collateral values and repayment performance. Investors may also continue to focus on Bullish’s high valuation and volatile trading history while waiting for evidence that the initiative contributes materially to results.

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.