Webull (NASDAQ:BULL) Trading 7.9% Higher - Still a Buy?

Key Points

• Webull's stock price increased by 7.9%, closing at $16.19 after trading down from a high of $16.41.
• Wall Street analysts recently downgraded Webull's stock from a "hold" to a "sell" rating, indicating a shift in market sentiment.
• The company reported a revenue of $117.37 million for the previous quarter, with earnings per share at negative $0.06.

Webull Corporation (NASDAQ:BULL - Get Free Report)'s stock price shot up 7.9% during mid-day trading on Monday . The company traded as high as $16.41 and last traded at $16.19. 5,583,328 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 12,504,269 shares. The stock had previously closed at $15.00.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Webull from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th.

Webull Trading Up 3.6%

The firm has a market cap of $7.38 billion, a PE ratio of 100.01 and a beta of -0.17. The business has a 50-day moving average price of $13.32.

Webull (NASDAQ:BULL - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $117.37 million for the quarter.

Institutional Trading of Webull

Institutional investors have recently added to or reduced their stakes in the stock. AQR Arbitrage LLC purchased a new stake in shares of Webull in the second quarter worth about $1,747,000. Cable Car Capital LP purchased a new position in shares of Webull during the 2nd quarter valued at $1,046,000. Sandia Investment Management LP purchased a new stake in shares of Webull in the second quarter worth $771,000. Azora Capital LP bought a new stake in Webull during the second quarter valued at $9,216,000. Finally, Sassicaia Capital Advisers LLC bought a new position in Webull in the 2nd quarter worth about $1,770,000. Hedge funds and other institutional investors own 92.48% of the company's stock.

Webull Company Profile

Webull Corp. engages in the provision of financial services. It offers trading, wealth management product distribution, market data and information, user community, and investor education. The company was founded by An Quan Wang in 2016 and is headquartered in St. Petersburg, FL.