Webull (NASDAQ:BULL) Shares Up 7.5% – Should You Buy?

Shares of Webull Corporation (NASDAQ:BULL) shot up 7.5% during trading on Friday. The company traded as high as $7.52 and last traded at $7.5550. 3,939,317 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 12,552,517 shares. The stock had previously closed at $7.03.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BULL shares. Scotiabank began coverage on shares of Webull in a research report on Wednesday, September 2nd. They issued a “sector perform” rating and a $9.00 price objective for the company. Weiss Ratings raised Webull from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, September 14th. Wall Street Zen raised Webull from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Webull Stock Performance

The stock has a market cap of $3.94 billion, a P/E ratio of 92.07 and a beta of 0.64. The firm has a 50-day moving average price of $8.18 and a 200-day moving average price of $7.06.

Webull (NASDAQ:BULL) last announced its quarterly earnings data on Wednesday, August 19th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter. The business’s revenue was up 51.2% compared to the same quarter last year. On average, research analysts predict that Webull Corporation will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Webull

In related news, CFO Haichen Wang sold 55,000 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $8.98, for a total value of $493,900.00. Following the transaction, the chief financial officer owned 772,046 shares in the company, valued at $6,932,973.08. The trade was a 6.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Benjamin James sold 50,273 shares of the firm’s stock in a transaction dated 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 approximately $10,381,938.82. This represents a 4.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 266,813 shares of company stock worth $2,386,684. 35.00% of the stock is owned by insiders.

Institutional Trading of Webull

Several institutional investors have recently added to or reduced their stakes in BULL. Tidal Investments LLC boosted its stake in shares of Webull by 148.8% in the second 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 during the period. Renaissance Technologies LLC lifted its holdings in Webull by 321.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,535,199 shares of the company’s stock valued at $7,369,000 after buying an additional 1,170,799 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Webull by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 748,970 shares of the company’s stock worth $3,595,000 after acquiring an additional 12,828 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Webull by 112.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 738,600 shares of the company’s stock valued at $3,545,000 after purchasing an additional 391,236 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its stake in Webull by 319.2% in the 4th quarter. WINTON GROUP Ltd now owns 418,317 shares of the company’s stock worth $3,250,000 after purchasing an additional 318,526 shares in the last quarter. 92.48% of the stock is currently owned by hedge funds and other institutional investors.

About Webull

Webull Corporation (NASDAQ:BULL) is a financial technology company that operates a digital investment platform and online brokerage. Its services are designed for self-directed investors and provide access to market information, research tools, charting and portfolio-management features through mobile and web-based applications.

Through its brokerage businesses, Webull offers trading in products that may include U.S.-listed stocks, exchange-traded funds, options and fractional shares, along with retirement accounts, margin services and other investing features, subject to availability and regulatory requirements.