Bullish (NYSE:BLSH) Receives $48.92 Average Price Target from Analysts

Bullish (NYSE:BLSH) has been given an average rating of “Hold” by the thirteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $49.2727.

BLSH has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $61.00 price objective on shares of Bullish in a report on Friday, May 15th. Weiss Ratings lowered Bullish from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, August 14th. JPMorgan Chase & Co. decreased their target price on Bullish from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Canaccord Genuity Group dropped their price target on shares of Bullish from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Finally, Zacks Research upgraded shares of Bullish from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st.

Bullish News Summary

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Expanded institutional crypto offering: Bullish listed STX, the native token of the Stacks network, allowing institutional investors to trade an asset tied to Bitcoin-native decentralized finance and smart-contract applications. The move could broaden Bullish’s digital-asset product range, attract additional institutional volume and strengthen its position in the regulated crypto-exchange market. Bullish lists STX, enabling institutional trading for Bitcoin-native finance
• Neutral Sentiment: The announcement does not include financial guidance or quantify expected trading volume, revenue or profitability benefits. Its impact on BLSH will depend on institutional adoption of STX and broader crypto-market activity.
• Negative Sentiment: Investor caution may reflect Bullish’s continuing losses, including a deeply negative net margin, even though its most recent earnings matched expectations and revenue increased sharply. Newly listed crypto assets also carry market, regulatory and volatility risks.

Bullish Trading Up 0.0%

Shares of NYSE:BLSH opened at $36.01 on Monday. The stock has a market capitalization of $5.43 billion and a PE ratio of -3.89. Bullish has a 1 year low of $20.55 and a 1 year high of $74.98. The firm has a fifty day moving average price of $26.27 and a 200 day moving average price of $31.91. The company has a current ratio of 23.52, a quick ratio of 22.41 and a debt-to-equity ratio of 0.20.

Bullish (NYSE:BLSH) last posted its earnings results on Thursday, August 13th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate 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 for the quarter. Bullish’s revenue for the quarter was up 62.5% compared to the same quarter last year. Analysts expect that Bullish will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Bullish

A number of institutional investors have recently made changes to their positions in BLSH. California State Teachers Retirement System lifted its holdings in shares of Bullish by 290.9% during the second quarter. California State Teachers Retirement System now owns 6,865 shares of the company’s stock worth $161,000 after buying an additional 5,109 shares during the last quarter. AXQ Capital LP bought a new position in Bullish during the second quarter worth $739,000. Wellington Management Group LLP increased its position in Bullish by 787.0% during the second quarter. Wellington Management Group LLP now owns 77,829 shares of the company’s stock worth $1,824,000 after acquiring an additional 69,055 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Bullish during the 2nd quarter valued at $138,000. Finally, Handelsbanken Fonder AB acquired a new position in Bullish during the 2nd quarter valued at $330,000.

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.