Bullish (NYSE:BLSH – Get Free Report) shares dropped 9.4% during trading on Friday after Rosenblatt Securities lowered their price target on the stock from $42.50 to $30.00. Rosenblatt Securities currently has a neutral rating on the stock. Bullish traded as low as $24.80 and last traded at $24.89. Approximately 369,809 shares traded hands during trading, a decline of 77% from the average session volume of 1,636,083 shares. The stock had previously closed at $27.48.
BLSH has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research note on Wednesday, June 24th. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $61.00 target price on shares of Bullish in a research note on Friday, May 15th. JPMorgan Chase & Co. cut their price objective on Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Finally, Citigroup reissued a “buy” rating on shares of Bullish in a report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.42.
View Our Latest Stock Report on Bullish
Trending Headlines about Bullish
- Positive Sentiment: Q2 results exceeded key expectations. Bullish reported adjusted revenue of $92.6 million, up 62.5% year over year, while adjusted EBITDA more than tripled to $29.5 million from $8.1 million. Adjusted net income was $14.3 million versus a $6 million loss a year earlier, and EPS of roughly $0.09-$0.10 met or exceeded consensus. Bullish shares jump 10% as Q2 adjusted EBITDA more than triples
- Positive Sentiment: Record subscription and services revenue helped offset weaker trading activity. This revenue stream reached $62.7 million, while quarterly trading volume declined to $179.6 billion from $197.4 billion. The results suggest Bullish is making progress diversifying beyond transaction-dependent crypto revenue. Bullish stock surges after topping Q2 revenue estimates
- Positive Sentiment: Tokenized-equity trading is strengthening Bullish’s growth narrative. The company completed the first tokenized equity trades on a GFSC-regulated digital-asset exchange. The shares can trade 24/7 and settle against a USD stablecoin, while the planned Equiniti acquisition could give Bullish infrastructure spanning issuance, shareholder registration and trading. Peter Thiel-backed Bullish sees tokenized stocks as a giant growth opportunity
- Neutral Sentiment: Rosenblatt Securities lowered its price target to $30 from $42.50 and retained a Neutral rating. The revised target still implies modest upside from the referenced $27.50 price, but the cut signals reduced confidence following the stock’s prior decline. Rosenblatt lowers Bullish price target
- Negative Sentiment: GAAP profitability remains a major concern. Bullish recorded a reported net loss of approximately $280 million, largely reflecting a mark-down on Bitcoin holdings, despite the adjusted profit and revenue beat. Crypto-asset volatility could continue to produce large swings in reported earnings. Bullish gains despite Bitcoin write-down
Hedge Funds Weigh In On Bullish
A number of institutional investors have recently bought and sold shares of BLSH. Essential Partners LLC acquired a new position in shares of Bullish in the 1st quarter valued at $27,000. Rakuten Securities Inc. purchased a new position in Bullish in the fourth quarter valued at $28,000. Strs Ohio acquired a new stake in Bullish during the fourth quarter worth approximately $30,000. MetLife Investment Management LLC purchased a new stake in shares of Bullish during the 4th quarter worth approximately $30,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Bullish in the 4th quarter valued at $61,000.
Bullish Stock Performance
The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average price is $24.53 and its 200-day moving average price is $31.92. The firm has a market cap of $3.76 billion and a price-to-earnings ratio of -3.81.
Bullish (NYSE:BLSH – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The firm had revenue of $92.62 million for the quarter. The company’s quarterly revenue was up 62.5% on a year-over-year basis. Analysts expect that Bullish will post 0.52 earnings per share 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.
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