Zacks Research Upgrades Bullish (NYSE:BLSH) to Hold

Bullish (NYSE:BLSH) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research analysts have also recently weighed in on the stock. Rosenblatt Securities dropped their target price on shares of Bullish from $42.50 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Citigroup reiterated a “buy” rating on shares of Bullish in a research note on Monday, July 27th. Canaccord Genuity Group reduced their price objective on Bullish from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, August 17th. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. lowered their target price on Bullish from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.92.

Bullish Trading Down 2.8%

Shares of Bullish stock opened at $33.08 on Monday. The firm has a market cap of $4.99 billion and a PE ratio of -3.57. Bullish has a 1 year low of $20.55 and a 1 year high of $74.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 23.52 and a quick ratio of 22.41. The stock has a fifty day moving average price of $25.54 and a 200-day moving average price of $31.84.

Bullish (NYSE:BLSH) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The company had revenue of $92.62 million for the quarter. Bullish’s quarterly revenue was up 62.5% on a year-over-year basis. Equities research analysts anticipate that Bullish will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Essential Partners LLC purchased a new position in Bullish in the 1st quarter valued at approximately $27,000. MetLife Investment Management LLC purchased a new stake in shares of Bullish during the fourth quarter worth $30,000. Strs Ohio bought a new position in shares of Bullish in the fourth quarter worth $30,000. Kestra Advisory Services LLC purchased a new position in shares of Bullish in the fourth quarter valued at $61,000. Finally, Advisory Services Network LLC bought a new stake in shares of Bullish during the 3rd quarter valued at $125,000.

More Bullish News

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish’s $100 million commitment gives the company exposure to demand for financing backed by high-value graphics processing units, which are increasingly used for AI computing. The initiative could diversify revenue beyond its core digital-asset market infrastructure business and strengthen its positioning in an emerging financial niche. Bullish Commits $100 Million to GPU-Backed AI Loans via USD.AI
• Neutral Sentiment: The investment is a capital deployment rather than immediately reported revenue or earnings, so the financial benefit will depend on loan demand, yields, collateral values and repayment performance. Investors may also continue to focus on Bullish’s high valuation and volatile trading history while waiting for evidence that the initiative contributes materially to results.

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.