Van ECK Associates Corp Purchases New Shares in Bullish $BLSH

Van ECK Associates Corp acquired a new position in Bullish (NYSE:BLSH) during the third quarter, HoldingsChannel reports. The fund acquired 683,430 shares of the company’s stock, valued at approximately $43,473,000.

Several other large investors also recently made changes to their positions in BLSH. Tradewinds Capital Management LLC acquired a new stake in shares of Bullish in the third quarter valued at $25,000. Ameritas Advisory Services LLC acquired a new position in Bullish during the 3rd quarter worth about $29,000. CWM LLC bought a new stake in Bullish during the 3rd quarter worth about $31,000. 10Elms LLP bought a new stake in Bullish during the 3rd quarter worth about $32,000. Finally, Tsfg LLC acquired a new stake in Bullish in the 3rd quarter valued at about $45,000.

Bullish Stock Up 1.4%

Bullish stock opened at $37.23 on Thursday. The company has a 50 day moving average of $34.51 and a 200-day moving average of $45.69. 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 stock has a market capitalization of $5.44 billion and a PE ratio of 372.34.

Bullish (NYSE:BLSH) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($3.73) EPS for the quarter, missing the consensus estimate of $0.16 by ($3.89). The company had revenue of $92.50 million during the quarter. Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The company’s quarterly revenue was up 67.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLSH shares. JPMorgan Chase & Co. dropped their target price on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a report on Monday, December 29th. Citigroup decreased their price objective on Bullish from $77.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $50.00 target price on shares of Bullish in a research note on Tuesday, January 6th. Finally, Rosenblatt Securities dropped their target price on Bullish from $52.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.08.

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.