Webull (NASDAQ:BULL) Stock Price Up 4.7% - Here's What Happened

Key Points

• Webull shares rose 4.7% to about $5.20 on Friday, while trading volume was 61% below its average.
• Analysts’ consensus rating is Hold, with a $10 average price target. Recent quarterly results beat earnings expectations, and revenue increased 51.2% year over year.
• Webull is expanding in Europe with brokerage services in Italy, but faces investor concerns over a securities lawsuit and a $4.2 million FINRA fine related to compliance deficiencies.

Webull Corporation (NASDAQ:BULL - Get Free Report)'s share price traded up 4.7% during trading on Friday. The stock traded as high as $5.20 and last traded at $5.1950. 4,949,735 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 12,556,816 shares. The stock had previously closed at $4.96.

Latest Webull News

These are some of the BULL news items that stood out recently:

• Positive Sentiment: Webull launched brokerage services in Italy, expanding its European presence and creating an opportunity to reach new customers. Article: Webull launches brokerage services in Italy
• Negative Sentiment: Several law firms publicized a securities class action against Webull and a December 7 deadline to seek lead-plaintiff status. The suit alleges the company made misleading statements; the claims have not been proven. Repeated law-firm announcements largely restate the same lawsuit, but the litigation adds uncertainty and potential legal costs. Article: Webull class action deadline
• Negative Sentiment: The lawsuit-related coverage points to a $4.2 million FINRA fine announced November 5 over deficiencies in anti-money-laundering, identity-theft-prevention, and best-execution programs. Reports also cite House Select Committee findings concerning Webull’s operations and workforce ties in mainland China. This regulatory and reputational overhang may weigh on investor sentiment; one report said shares fell nearly 11% after the fine announcement. Article: Webull investor alert

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank upgraded Webull from a "sector perform" rating to a "sector outperform" rating and set a $9.00 target price for the company in a research report on Friday, October 9th. Rosenblatt Securities lowered their price target on Webull from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Weiss Ratings upgraded Webull from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, September 14th. Finally, Wall Street Zen raised shares of Webull from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $10.00.

Webull Trading Up 5.1%

The firm has a market cap of $2.82 billion, a PE ratio of 65.20 and a beta of 0.71. The firm's 50 day simple moving average is $6.77 and its 200 day simple moving average is $6.72.

Webull (NASDAQ:BULL - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.01 by $0.11. Webull had a net margin of 6.26% and a return on equity of 5.95%. The business had revenue of $198.83 million during the quarter. Webull's revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts predict that Webull Corporation will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Benjamin James sold 50,273 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $9.02, for a total transaction of $453,462.46. Following the sale, the general counsel owned 1,150,991 shares of the company's stock, valued at $10,381,938.82. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Anthony Denier sold 53,846 shares of the company's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $5.39, for a total transaction of $290,229.94. Following the sale, the president owned 2,063,065 shares in the company, valued at $11,119,920.35. This represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 428,351 shares of company stock worth $3,399,527. Insiders own 35.00% of the company's stock.

Institutional Trading of Webull

Several institutional investors have recently added to or reduced their stakes in BULL. Assenagon Asset Management S.A. lifted its position in shares of Webull by 3,738.1% during the third quarter. Assenagon Asset Management S.A. now owns 4,058,553 shares of the company's stock worth $28,288,000 after purchasing an additional 3,952,809 shares during the last quarter. Tidal Investments LLC grew its stake in Webull by 148.8% in the second quarter. Tidal Investments LLC now owns 2,741,993 shares of the company's stock valued at $17,878,000 after purchasing an additional 1,640,067 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Webull by 321.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,535,199 shares of the company's stock worth $7,369,000 after acquiring an additional 1,170,799 shares in the last quarter. Greenland Capital Management LP boosted its position in shares of Webull by 0.3% in the 2nd quarter. Greenland Capital Management LP now owns 1,158,725 shares of the company's stock worth $2,225,000 after purchasing an additional 2,912 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Webull during the third quarter worth about $6,622,000. Institutional investors own 92.48% of the company's stock.

Webull Company Profile

Webull Corporation operates a digital investing and brokerage platform for individual investors. Its services include trading in stocks, exchange-traded funds, options and other investment products, with availability varying by market. The platform also provides market data, charting and analysis tools, and paper-trading features. Founded in 2017, Webull serves customers in the United States and several international markets. Its mobile and desktop platforms are designed to give investors access to trading tools and financial information.

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