Webull (NASDAQ:BULL) Trading 5.3% Higher - Here's What Happened

Key Points

• Webull shares rose 5.3% to $8.12 in Friday trading, although volume was 70% below the stock’s average daily volume.
• Analyst sentiment remains mixed: Webull has an average “Hold” rating and an $11 consensus price target, with targets ranging from $9 to $15.
• The company reported strong quarterly results, including $0.12 EPS versus the $0.01 estimate and 51.2% year-over-year revenue growth, while insiders sold nearly $1.94 million of shares during the last quarter.

Webull Corporation (NASDAQ:BULL - Get Free Report)'s stock price shot up 5.3% during trading on Friday . The company traded as high as $8.14 and last traded at $8.12. Approximately 3,833,766 shares were traded during trading, a decline of 70% from the average daily volume of 12,613,411 shares. The stock had previously closed at $7.71.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Scotiabank began coverage on shares of Webull in a report on Wednesday, September 2nd. They issued a "sector perform" rating and a $9.00 price objective for the company. Weiss Ratings upgraded shares of Webull from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday. Wall Street Zen raised Webull from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $15.00 price target on shares of Webull in a research note on Friday, August 28th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Webull currently has an average rating of "Hold" and a consensus target price of $11.00.

Webull Stock Performance

The company has a market cap of $4.35 billion, a price-to-earnings ratio of 102.46 and a beta of 0.58. The business has a fifty day moving average price of $8.21 and a 200 day moving average price of $6.93.

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

Insider Activity at Webull

In other Webull news, President Anthony Michael Denier sold 53,848 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $8.83, for a total value of $475,477.84. Following the sale, the president owned 2,332,295 shares in the company, valued at $20,594,164.85. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Benjamin James sold 50,273 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $9.02, for a total transaction of $453,462.46. Following the sale, the general counsel directly owned 1,150,991 shares in the company, valued at approximately $10,381,938.82. The trade was a 4.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 212,967 shares of company stock valued at $1,938,685 in the last quarter. Insiders own 35.00% of the company's stock.

Institutional Investors Weigh In On Webull

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Greenland Capital Management LP lifted its holdings in Webull by 0.3% during the 2nd quarter. Greenland Capital Management LP now owns 1,158,725 shares of the company's stock worth $2,225,000 after buying an additional 2,912 shares during the period. Versant Capital Management Inc increased its stake in shares of Webull by 79.8% in the second quarter. Versant Capital Management Inc now owns 7,335 shares of the company's stock valued at $48,000 after buying an additional 3,255 shares during the period. Allworth Financial LP raised its position in shares of Webull by 67.0% during the second quarter. Allworth Financial LP now owns 8,320 shares of the company's stock worth $54,000 after acquiring an additional 3,337 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Webull by 19.5% in the first quarter. Hsbc Holdings PLC now owns 55,456 shares of the company's stock worth $264,000 after acquiring an additional 9,063 shares during the period. Finally, Ritter Alpha LP bought a new stake in Webull in the first quarter valued at approximately $48,000. 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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