Webull (NASDAQ:BULL) Shares Down 5.5% After Insider Selling

Key Points

• Webull shares fell 5.5% to about $8.19 after CFO Haichen Wang sold 55,000 shares for approximately $493,900, reducing his position by 6.65%.
• Analyst sentiment remains mixed, with Webull receiving two Buy, two Hold, and one Sell rating; the average target price is $11.00 versus the recent share price.
• The company reported strong quarterly results, including $0.12 in EPS versus a $0.01 consensus estimate and 51.2% year-over-year revenue growth. Institutional investors own 92.48% of the stock.

Webull Corporation (NASDAQ:BULL - Get Free Report) shares fell 5.5% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $8.15 and last traded at $8.1850. 2,323,776 shares were traded during trading, a decline of 81% from the average session volume of 12,481,454 shares. The stock had previously closed at $8.66.

Specifically, CFO Haichen Wang sold 55,000 shares of Webull stock in a transaction on Monday, September 14th. The shares were sold at an average price of $8.98, for a total transaction of $493,900.00. Following the transaction, the chief financial officer owned 772,046 shares in the company, valued at approximately $6,932,973.08. The trade was a 6.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BULL. Weiss Ratings upgraded Webull from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 price objective on shares of Webull in a research report on Friday, August 28th. Scotiabank started coverage on shares of Webull in a report on Wednesday, September 2nd. They issued a "sector perform" rating and a $9.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Webull from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Webull has an average rating of "Hold" and an average target price of $11.00.

Webull Price Performance

The firm has a market cap of $4.34 billion, a P/E ratio of 101.91 and a beta of 0.58. The company's 50-day simple moving average is $8.19 and its 200 day simple moving average is $6.90.

Webull (NASDAQ:BULL - Get Free Report) last announced its earnings results on Wednesday, August 19th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.11. The business had revenue of $198.83 million during the quarter. Webull had a return on equity of 5.95% and a net margin of 6.26%.The business's revenue was up 51.2% compared to the same quarter last year. Analysts anticipate that Webull Corporation will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Webull

A number of large investors have recently bought and sold shares of BULL. Tidal Investments LLC grew its stake in Webull by 148.8% in the 2nd quarter. Tidal Investments LLC now owns 2,741,993 shares of the company's stock worth $17,878,000 after acquiring an additional 1,640,067 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Webull by 92.1% during the second quarter. Integrated Wealth Concepts LLC now owns 42,740 shares of the company's stock valued at $279,000 after acquiring an additional 20,487 shares in the last quarter. Allworth Financial LP raised its stake in shares of Webull by 67.0% during the second quarter. Allworth Financial LP now owns 8,320 shares of the company's stock valued at $54,000 after acquiring an additional 3,337 shares in the last quarter. Waverly Advisors LLC purchased a new stake in shares of Webull in the second quarter valued at approximately $87,000. Finally, Corient Private Wealth LP boosted its holdings in shares of Webull by 76.4% in the second quarter. Corient Private Wealth LP now owns 406,761 shares of the company's stock valued at $2,652,000 after purchasing an additional 176,233 shares during the period. Hedge funds and other institutional investors own 92.48% of the company's stock.

Webull Company Profile

Webull Corporation NASDAQ: BULL is a digital brokerage and financial technology company that operates an online investment platform for self-directed investors. Its platform is available through mobile applications, desktop software and a web interface, combining brokerage services with market data, research tools, charting capabilities and investor education resources.

Depending on the applicable jurisdiction, Webull provides access to products such as stocks, exchange-traded funds, options, fractional shares and cryptocurrency.

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