Webull (NASDAQ:BULL) Shares Down 8% - Here's Why

Key Points

• Webull's stock price declined by 8%, trading as low as $14.43 during Tuesday's session, with a total of 9.78 million shares traded.
• Analysts recently downgraded Webull from a "hold" rating to a "sell" rating, reflecting potential concerns about the company's financial outlook.
• Webull reported earnings of ($0.06) per share for the last quarter, with total revenue of $117.37 million.

Webull Corporation (NASDAQ:BULL - Get Free Report) shares traded down 8% during mid-day trading on Tuesday . The stock traded as low as $14.43 and last traded at $14.47. 9,784,680 shares changed hands during trading, a decline of 21% from the average session volume of 12,420,593 shares. The stock had previously closed at $15.72.

Analyst Ratings Changes

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

Webull Trading Down 6.1%

The company has a market cap of $6.15 billion, a price-to-earnings ratio of 83.32 and a beta of -0.17. The stock has a fifty day moving average price of $12.64.

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

Hedge Funds Weigh In On Webull

A hedge fund recently bought a new stake in Webull stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Webull Corporation (NASDAQ:BULL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,715 shares of the company's stock, valued at approximately $439,000. 92.48% of the stock is owned by hedge funds and other institutional investors.

About Webull

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.