Bullish (NYSE:BLSH) Given Consensus Recommendation of “Hold” by Analysts

Bullish (NYSE:BLSH) has earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $51.9167.

BLSH has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a report on Friday, March 27th. Citigroup lowered their price target on Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Rosenblatt Securities reissued a “neutral” rating and issued a $39.00 price target on shares of Bullish in a report on Thursday, April 9th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $50.00 price target on shares of Bullish in a report on Tuesday, January 6th.

Insider Buying and Selling

In other news, CEO Thomas W. Farley sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $36.41, for a total transaction of $2,912,800.00. Following the sale, the chief executive officer directly owned 4,923,386 shares of the company’s stock, valued at $179,260,484.26. This represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC bought a new stake in Bullish during the third quarter worth approximately $31,000. Albion Financial Group UT bought a new stake in Bullish during the third quarter worth approximately $64,000. Renaissance Capital LLC bought a new stake in Bullish during the third quarter worth approximately $2,436,000. Tradewinds Capital Management LLC bought a new stake in Bullish during the third quarter worth approximately $25,000. Finally, Benjamin Edwards Inc. bought a new stake in Bullish during the third quarter worth approximately $730,000.

Bullish Trading Up 3.5%

Shares of NYSE:BLSH opened at $40.71 on Tuesday. The stock has a 50 day moving average of $37.22 and a 200 day moving average of $39.97. The company has a market cap of $6.14 billion and a PE ratio of 407.10. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15. Bullish has a 12-month low of $24.79 and a 12-month high of $118.00.

Bullish (NYSE:BLSH) last posted its quarterly earnings results on Friday, February 6th. The company reported ($3.73) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The business had revenue of $92.51 million during the quarter. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 67.6% compared to the same quarter last year. As a group, equities research analysts expect that Bullish will post 0.82 EPS for the current year.

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.