Jain Global LLC Buys Shares of 142,163 Bullish $BLSH

Jain Global LLC purchased a new position in Bullish (NYSE:BLSH) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 142,163 shares of the company’s stock, valued at approximately $9,043,000.

Other hedge funds also recently bought and sold shares of the company. ARK Investment Management LLC bought a new stake in Bullish in the 3rd quarter worth about $163,904,000. Massachusetts Financial Services Co. MA bought a new position in Bullish during the 3rd quarter valued at about $92,824,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Bullish during the 3rd quarter valued at about $91,782,000. Amova Asset Management Americas Inc. purchased a new stake in shares of Bullish during the 3rd quarter valued at about $91,431,000. Finally, Invesco Ltd. bought a new stake in shares of Bullish in the third quarter worth approximately $74,658,000.

Bullish Stock Up 8.3%

BLSH opened at $39.66 on Tuesday. The company has a market capitalization of $5.98 billion and a PE ratio of 396.58. The firm has a 50-day simple moving average of $34.39 and a two-hundred day simple moving average of $44.98. The company has a quick ratio of 27.69, a current ratio of 29.28 and a debt-to-equity ratio of 0.15. Bullish has a 52 week low of $24.79 and a 52 week high of $118.00.

Bullish (NYSE:BLSH) last posted its earnings results on Thursday, February 5th. The company reported ($3.73) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The business had revenue of $92.50 million during the quarter. During the same period in the previous year, the business posted $1.37 earnings per share. The business’s quarterly revenue was up 67.6% compared to the same quarter last year.

Analyst Ratings Changes

BLSH has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Bullish from a “hold” rating to a “buy” rating and cut their target price for the stock from $52.00 to $51.00 in a research report on Wednesday, November 19th. Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a report on Monday, December 29th. Rosenblatt Securities lowered their target price on Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. dropped their target price on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Bullish has an average rating of “Hold” and a consensus target price of $52.08.

Bullish 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.