Renaissance Capital LLC Acquires New Position in Bullish $BLSH

Renaissance Capital LLC bought a new position in shares of Bullish (NYSE:BLSH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 38,289 shares of the company’s stock, valued at approximately $2,436,000. Bullish accounts for 1.4% of Renaissance Capital LLC’s portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Bullish during the third quarter worth about $10,423,000. CWM LLC acquired a new stake in shares of Bullish in the 3rd quarter valued at about $31,000. Finally, Albion Financial Group UT bought a new stake in shares of Bullish in the third quarter valued at about $64,000.

Bullish Stock Performance

Bullish stock opened at $39.24 on Wednesday. The stock’s 50-day simple moving average is $44.71. Bullish has a 52 week low of $34.24 and a 52 week high of $118.00. The company has a market capitalization of $5.74 billion and a PE ratio of 1,962.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 38.78 and a quick ratio of 36.58.

Analyst Ratings Changes

BLSH has been the subject of a number of research reports. Oppenheimer initiated coverage on Bullish in a report on Monday, September 8th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods began coverage on shares of Bullish in a research note on Monday, September 15th. They set a “market perform” rating and a $55.00 price target for the company. Citigroup cut their price objective on shares of Bullish from $77.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. JPMorgan Chase & Co. decreased their target price on shares of Bullish from $63.00 to $46.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Finally, Canaccord Genuity Group cut their price target on shares of Bullish from $68.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.67.

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.