Short Interest in Bullish (NYSE:BLSH) Grows By 17.3%

Bullish (NYSE:BLSH) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 8,822,616 shares, an increase of 17.3% from the March 31st total of 7,522,811 shares. Based on an average trading volume of 1,024,234 shares, the days-to-cover ratio is presently 8.6 days. Approximately 5.8% of the company’s shares are sold short.

Insider Transactions at Bullish

In other Bullish news, CEO Thomas W. Farley sold 80,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were 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 in the company, valued at $179,260,484.26. This represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On Bullish

Institutional investors have recently bought and sold shares of the business. Global Assets Advisory LLC purchased a new position in shares of Bullish in the first quarter valued at $134,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Bullish by 51.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock valued at $136,985,000 after purchasing an additional 1,304,573 shares during the period. Axxcess Wealth Management LLC purchased a new position in shares of Bullish in the first quarter valued at $261,000. Stephens Investment Management Group LLC boosted its stake in shares of Bullish by 38.6% in the first quarter. Stephens Investment Management Group LLC now owns 1,178,599 shares of the company’s stock valued at $42,111,000 after purchasing an additional 328,351 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Bullish in the first quarter valued at $143,000.

Trending Headlines about Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish enabled Ripple Prime institutional clients to trade BTC options on its platform using RLUSD collateral, widening access for large counterparties and likely increasing derivatives flow and liquidity. Ripple Prime Just Plugged Into Bullish’s BTC Options Market
• Positive Sentiment: Bullish has deployed bitcoin into Mezo’s institutional yield product (reports cite sizable BTC allocations), signaling the firm is monetizing idle custody assets and partnering on institutional-grade yield services — a potential new revenue stream. Mezo Launches Mezo Prime as Bullish Deploys 250 BTC Into Yield Vaults
• Neutral Sentiment: Broad private-market flows remain strong (Ares raised $30B in Q1), which is a positive macro for institutional allocations but is an indirect driver for Bullish — it supports the theme of continued capital seeking yield and alternatives. Turbulent Markets, Bullish Bets: Ares Bags Record $30 Billion In Q1
• Neutral Sentiment: Multiple analyst roundups and coverage changes (upgrades/downgrades/initiations) are circulating across the market; most mention other names and have limited direct implications for BLSH beyond general sector sentiment. This Roblox Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday

Bullish Price Performance

Shares of NYSE BLSH traded up $1.51 during midday trading on Friday, hitting $39.24. The company had a trading volume of 882,286 shares, compared to its average volume of 1,003,596. 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 twelve month low of $24.79 and a twelve month high of $118.00. The business has a 50-day simple moving average of $37.22 and a two-hundred day simple moving average of $40.24. The firm has a market capitalization of $5.92 billion and a price-to-earnings ratio of 392.42.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein reiterated a “market perform” rating and set a $50.00 price target on shares of Bullish in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. cut their price target on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Finally, Citigroup cut their price target on shares of Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.92.

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.