Webull (NASDAQ:BULL) Stock Price Up 7.5% – Time to Buy?

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on BULL. Scotiabank assumed coverage on Webull in a research note on Wednesday, September 2nd. They issued a “sector perform” rating and a $9.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Webull in a report on Friday, August 28th. Wall Street Zen raised shares of Webull from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings upgraded Webull from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Webull Trading Up 5.3%

The company’s 50-day moving average price is $8.18 and its two-hundred day moving average price is $7.06. The company has a market cap of $3.94 billion, a P/E ratio of 92.07 and a beta of 0.64.

Webull (NASDAQ:BULL) last announced its earnings results on Wednesday, August 19th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.11. Webull had a return on equity of 5.95% and a net margin of 6.26%.The company had revenue of $198.83 million for the quarter. The firm’s revenue was up 51.2% compared to the same quarter last year. Equities analysts forecast that Webull Corporation will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Anthony Michael Denier sold 53,848 shares of Webull stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $8.83, for a total transaction of $475,477.84. Following the transaction, the president owned 2,332,295 shares in the company, valued at approximately $20,594,164.85. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Haichen Wang sold 55,000 shares of the company’s stock in a transaction on 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 directly owned 772,046 shares in the company, valued at $6,932,973.08. The trade was a 6.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 266,813 shares of company stock worth $2,386,684. Corporate insiders own 35.00% of the company’s stock.

Hedge Funds Weigh In On Webull

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC increased 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 in the last quarter. Renaissance Technologies LLC raised 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 worth $7,369,000 after buying an additional 1,170,799 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted 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 buying an additional 391,236 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Webull in the first quarter valued at approximately $1,584,000. Finally, WINTON GROUP Ltd increased its position in shares of Webull by 319.2% during the fourth quarter. WINTON GROUP Ltd now owns 418,317 shares of the company’s stock worth $3,250,000 after acquiring 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.