JPMorgan Chase & Co. Lowers Bullish (NYSE:BLSH) Price Target to $26.00

Bullish (NYSE:BLSH) had its target price cut by equities researchers at JPMorgan Chase & Co. from $43.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 0.29% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Cantor Fitzgerald upped their target price on Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Wall Street Zen lowered Bullish from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Citigroup dropped their target price on Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Rosenblatt Securities upped their target price on Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research report on Friday, March 27th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bullish has an average rating of “Hold” and an average price target of $50.67.

Bullish Stock Down 8.8%

NYSE:BLSH traded down $2.53 on Tuesday, hitting $26.08. 1,066,248 shares of the company’s stock traded hands, compared to its average volume of 1,665,299. The company has a market cap of $3.93 billion and a PE ratio of -4.00. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00. The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $36.74 and a 200-day moving average price of $37.23.

Bullish (NYSE:BLSH) last issued its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The business had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business’s quarterly revenue was up 48.8% on a year-over-year basis. Equities analysts anticipate that Bullish will post 0.72 EPS for the current fiscal year.

Insider Activity at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the transaction, the chief executive officer owned 80,000 shares of the company’s stock, valued at approximately $3,516,000. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Trading of Bullish

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLSH. Essential Partners LLC bought a new stake in shares of Bullish in the 1st quarter worth approximately $27,000. Rakuten Securities Inc. bought a new position in shares of Bullish during the 4th quarter worth approximately $28,000. Ameritas Advisory Services LLC bought a new position in shares of Bullish during the 3rd quarter worth approximately $29,000. Strs Ohio bought a new position in shares of Bullish during the 4th quarter worth approximately $30,000. Finally, MetLife Investment Management LLC bought a new position in shares of Bullish during the 4th quarter worth approximately $30,000.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Neutral Sentiment: Most of today’s headlines are unrelated to Bullish’s business, focusing instead on analyst upgrades/downgrades in other stocks and broad market commentary, so they do not provide a clear direct catalyst for BLSH. Article Title
• Neutral Sentiment: Crypto-related pieces about Bitcoin and XRP may help sentiment for digital-asset names generally, but they are indirect and do not mention Bullish’s operating results or outlook. Article Title
• Neutral Sentiment: Comments from well-known strategists and executives expressing bullish views on markets and Bitcoin could support sentiment for crypto-exposed companies, but the impact on Bullish is likely limited without company-specific news. Article Title
• Negative Sentiment: Bullish stock already has a weak technical setup, trading well below its 50-day and 200-day moving averages after a post-earnings pullback and an EPS miss, which likely continues to weigh on shares.

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.