Bullish (NYSE:BLSH) Sees Large Increase in Short Interest

Bullish (NYSE:BLSH) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 8,822,616 shares, a growth of 17.3% from the March 31st total of 7,522,811 shares. Based on an average daily volume of 1,024,234 shares, the short-interest ratio is currently 8.6 days. Currently, 5.8% of the shares of the company are short sold.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish enabled Ripple Prime institutional clients to trade BTC options on its platform using RLUSD collateral, widening access for large counterparties and likely increasing derivatives flow and liquidity. Ripple Prime Just Plugged Into Bullish’s BTC Options Market
• Positive Sentiment: Bullish has deployed bitcoin into Mezo’s institutional yield product (reports cite sizable BTC allocations), signaling the firm is monetizing idle custody assets and partnering on institutional-grade yield services — a potential new revenue stream. Mezo Launches Mezo Prime as Bullish Deploys 250 BTC Into Yield Vaults
• Neutral Sentiment: Broad private-market flows remain strong (Ares raised $30B in Q1), which is a positive macro for institutional allocations but is an indirect driver for Bullish — it supports the theme of continued capital seeking yield and alternatives. Turbulent Markets, Bullish Bets: Ares Bags Record $30 Billion In Q1
• Neutral Sentiment: Multiple analyst roundups and coverage changes (upgrades/downgrades/initiations) are circulating across the market; most mention other names and have limited direct implications for BLSH beyond general sector sentiment. This Roblox Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $36.41, for a total value of $2,912,800.00. Following the completion of the sale, the chief executive officer directly owned 4,923,386 shares of the company’s stock, valued at approximately $179,260,484.26. The trade was a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Bullish

A number of large investors have recently modified their holdings of BLSH. Tradewinds Capital Management LLC acquired a new stake in shares of Bullish in the 3rd quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in Bullish during the 3rd quarter valued at $29,000. CWM LLC acquired a new stake in Bullish during the 3rd quarter valued at $31,000. 10Elms LLP acquired a new stake in Bullish during the 3rd quarter valued at $32,000. Finally, Tsfg LLC acquired a new stake in Bullish during the 3rd quarter valued at $45,000.

Bullish Stock Performance

Shares of BLSH stock traded up $1.51 during trading hours on Friday, reaching $39.24. 882,286 shares of the company’s stock were exchanged, compared to its average volume of 1,003,596. The company has a market cap of $5.92 billion and a P/E ratio of 392.42. The company’s 50 day moving average is $37.22 and its two-hundred day moving average is $40.24. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 29.28 and a quick ratio of 27.69.

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). The business had revenue of $92.51 million for the quarter. Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The company’s quarterly revenue was up 67.6% on a year-over-year basis. During the same period last year, the business posted $1.37 earnings per share. Equities research analysts anticipate that Bullish will post 0.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price objective on Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Bullish in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $39.00 price objective on shares of Bullish in a research note on Thursday, April 9th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $51.92.

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.