Bullish (NYSE:BLSH) Stock Picked Up by Analysts at Freedom Broker

Equities researchers at Freedom Broker began coverage on shares of Bullish (NYSE:BLSH) in a research note issued to investors on Tuesday, Zacks reports. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also recently issued reports on BLSH. Keefe, Bruyette & Woods cut their price target on Bullish from $55.00 to $40.00 and set a “market perform” rating for the company in a report on Tuesday, September 29th. Weiss Ratings raised shares of Bullish from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. Rosenblatt Securities lowered their price objective on shares of Bullish from $42.50 to $30.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Zacks Research upgraded shares of Bullish from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Finally, Wells Fargo & Company dropped their target price on shares of Bullish from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.36.

Bullish Trading Up 0.5%

Shares of BLSH opened at $23.07 on Tuesday. The stock has a fifty day moving average price of $32.62 and a two-hundred day moving average price of $32.11. The company has a debt-to-equity ratio of 0.20, a quick ratio of 22.41 and a current ratio of 23.52. Bullish has a 52-week low of $20.55 and a 52-week high of $48.93. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -2.49 and a beta of 1.06.

Bullish (NYSE:BLSH) last announced its earnings results on Thursday, August 13th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $92.62 million for the quarter. Bullish had a positive return on equity of 2.48% and a negative net margin of 389.38%. The business’s revenue was up 62.5% compared to the same quarter last year. Analysts predict that Bullish will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Bullish

Several hedge funds and other institutional investors have recently made changes to their positions in BLSH. Essential Partners LLC acquired a new position in shares of Bullish during the first quarter valued at $27,000. CoreCap Advisors LLC bought a new position in Bullish in the third quarter valued at about $67,000. Integrated Wealth Concepts LLC acquired a new stake in Bullish in the second quarter worth about $59,000. Global Assets Advisory LLC acquired a new stake in Bullish in the first quarter worth about $134,000. Finally, Versant Capital Management Inc increased its position in Bullish by 975.3% in the third quarter. Versant Capital Management Inc now owns 3,914 shares of the company’s stock worth $137,000 after purchasing an additional 3,550 shares during the period.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish and Equiniti reported transferring 61 million tokenized shares at the NYSE, and Bullish selected Solana, Aptos and Ethereum as initial network partners for its tokenized-share service. The rollout could broaden the company’s digital-asset infrastructure and create opportunities for future activity and revenue, although the reports provided no financial guidance or revenue estimates. Read More..
• Neutral Sentiment: Aptos was separately reported as an initial network partner for the service, reinforcing the multi-chain rollout but adding no separate disclosed financial details. Read More..
• Negative Sentiment: ARK Invest reduced its Bullish holdings, selling about 342,545 shares valued at roughly $8 million across recent sessions, according to a report. The selling may weigh on sentiment, though it does not by itself indicate a change in Bullish’s business outlook. Read More..

About Bullish

Bullish is a digital asset trading and financial technology company that operates a regulated cryptocurrency exchange. Its platform is designed to provide trading and market infrastructure for digital assets, including spot trading and other services for institutional and professional investors.

The company’s offerings include access to cryptocurrency markets, custody and settlement capabilities, and tools intended to support liquidity, execution and portfolio management. Bullish also publishes digital asset market news and analysis through its media operations.

Bullish was established in 2021 and launched its exchange that year.