Peter Thiel-Backed Q2 Numbers Hit This Week: Will the Crypto Exchange Defy Sluggish Volumes and Post an E

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.