Cryptocurrency exchange Bullish (NYSE:BLSH) will release earnings for the second quarter before the bell on Thursday. Here’s what investors should know ahead of the release.
A Glance at Consensus Estimates
Analysts estimate the firm to announce earnings per share of $0.09, down 90% year-over-year, an 30% from the previous quarter.
The firm is expected to report quarterly revenue of $87.90 million, up 50% from the same quarter last year.
The BLSH stock has a consensus price target of $49 based on the ratings of 11 analysts. In its most recent rating in June, JPMorgan analyst Kenneth Worthington maintained a “Neutral” rating on the stock while cutting the price target from $43 to $26.
‘Bullish’ or Bearish?
Short interest in the stock rose from 9.20 million to 9.90 million, accounting for 19.6% of the company’s publicly available float. A rising short interest is typically interpreted as a bearish signal.
As of this writing, the Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, flashed a “Buy” signal for BLSH, according to TradingView.
The Relative Strength Index hovered just above the centerline at 50, implying a “Neutral” condition.
Q2 Volumes Dip Sharply
Bullish reported $130.7 billion in total trading volume, including spot and derivatives, for the quarter ending June 30, down 33% from the previous quarter.
