Citigroup Cuts Bullish (NYSE:BLSH) Price Target to $67.00

Bullish (NYSE:BLSH) had its price objective lowered by Citigroup from $77.00 to $67.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. Compass Point reissued a “neutral” rating on shares of Bullish in a report on Thursday, September 18th. Wall Street Zen downgraded shares of Bullish from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Bullish from a “hold” rating to a “buy” rating and reduced their price objective for the company from $52.00 to $51.00 in a research note on Wednesday, November 19th. New Street Research set a $56.00 price objective on shares of Bullish in a report on Thursday, September 18th. Finally, UBS Group set a $63.00 target price on shares of Bullish in a report on Friday, September 19th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bullish currently has a consensus rating of “Hold” and an average target price of $54.67.

Bullish Price Performance

BLSH opened at $42.68 on Monday. The company has a quick ratio of 36.58, a current ratio of 38.78 and a debt-to-equity ratio of 0.13. Bullish has a 12 month low of $34.24 and a 12 month high of $118.00. The firm has a market cap of $6.24 billion and a PE ratio of 2,134.00. The company has a 50 day simple moving average of $46.06.

Hedge Funds Weigh In On Bullish

Several hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC purchased a new stake in shares of Bullish in the third quarter valued at about $163,904,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Bullish during the 3rd quarter worth approximately $92,824,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Bullish during the 3rd quarter worth approximately $91,782,000. Amova Asset Management Americas Inc. purchased a new stake in Bullish in the 3rd quarter valued at approximately $91,431,000. Finally, Invesco Ltd. purchased a new stake in Bullish in the 3rd quarter valued at approximately $74,658,000.

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.