Bullish (NYSE:BLSH – Get Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.
A number of other research firms also recently issued reports on BLSH. Citigroup lowered their target price on shares of Bullish from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Cantor Fitzgerald increased their price target on shares of Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. Rosenblatt Securities boosted their price objective on shares of Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded Bullish from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.67.
Read Our Latest Stock Report on BLSH
Bullish Stock Performance
Bullish (NYSE:BLSH – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business had revenue of $92.83 million during the quarter. Bullish’s revenue was up 48.8% on a year-over-year basis. On average, research analysts predict that Bullish will post 0.57 earnings per share for the current year.
Insider Buying and Selling
In other Bullish news, CEO Thomas W. Farley sold 80,000 shares of Bullish stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the transaction, the chief executive officer directly owned 80,000 shares of the company’s stock, valued at $3,516,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Institutional Investors Weigh In On Bullish
Several large investors have recently made changes to their positions in BLSH. Rakuten Securities Inc. acquired a new stake in shares of Bullish in the fourth quarter valued at about $28,000. Essential Partners LLC acquired a new position in Bullish during the 1st quarter worth approximately $27,000. MetLife Investment Management LLC purchased a new position in Bullish in the 4th quarter worth approximately $30,000. Strs Ohio purchased a new position in Bullish in the 4th quarter worth approximately $30,000. Finally, SteelPeak Wealth LLC grew its position in Bullish by 13.5% in the first quarter. SteelPeak Wealth LLC now owns 8,577 shares of the company’s stock valued at $306,000 after acquiring an additional 1,019 shares in the last quarter.
Key Stories Impacting Bullish
Here are the key news stories impacting Bullish this week:
- Positive Sentiment: Bullish added Thomas Cowan, a tokenization specialist from Galaxy, to lead its tokenization strategy; his background in launching compliant tokenized products could help accelerate Bullish’s efforts in this emerging market. Bullish appoints Thomas Cowan as Head of Tokenization
- Positive Sentiment: The company is building a broader tokenized securities infrastructure around its regulated exchange, CoinDesk data services, and planned Equiniti acquisition, which could create a new growth avenue if adoption picks up. Bullish appoints Thomas Cowan as Head of Tokenization
- Neutral Sentiment: News flow across crypto and fintech names also kept sentiment constructive, with broader analyst optimism around digital assets and risk assets helping the backdrop for BLSH. This Five-Star KeyBanc Analyst Turns More Bullish on Chip Stocks, Lifts Targets for AMD, NVDA, MRVL, MU, and ARM
- Neutral Sentiment: At the same time, the announcement is still early-stage and tied to forward-looking plans, including a pending acquisition and regulatory approvals, so the market may be waiting for execution details before assigning more value. Bullish appoints Thomas Cowan as Head of Tokenization
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.
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