Webull (NASDAQ:BULL) Shares Down 5.5% Following Insider Selling

Webull Corporation (NASDAQ:BULL)’s share price dropped 5.5% on Wednesday following insider selling activity. The company traded as low as $8.15 and last traded at $8.1850. 2,323,776 shares were traded during trading, a decline of 81% from the average daily volume of 12,481,454 shares. The stock had previously closed at $8.66.

Specifically, CFO Haichen Wang sold 55,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $8.98, for a total transaction 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. This trade represents a 6.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Ratings Changes

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

Webull Stock Performance

The stock has a fifty day moving average price of $8.19 and a 200-day moving average price of $6.90. The firm has a market capitalization of $4.34 billion, a PE ratio of 101.91 and a beta of 0.58.

Webull (NASDAQ:BULL) last issued 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 return on equity of 5.95% and a net margin of 6.26%.The firm had revenue of $198.83 million during the quarter. The business’s quarterly revenue was up 51.2% on a year-over-year basis. Research analysts expect that Webull Corporation will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Webull

Large investors have recently added to or reduced their stakes in the company. Greenland Capital Management LP increased its position in shares of Webull by 0.3% during the second quarter. Greenland Capital Management LP now owns 1,158,725 shares of the company’s stock worth $2,225,000 after purchasing an additional 2,912 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Webull by 79.8% in the 2nd quarter. Versant Capital Management Inc now owns 7,335 shares of the company’s stock worth $48,000 after purchasing an additional 3,255 shares in the last quarter. Allworth Financial LP boosted its position in shares of Webull by 67.0% in the 2nd quarter. Allworth Financial LP now owns 8,320 shares of the company’s stock worth $54,000 after purchasing an additional 3,337 shares in the last quarter. Hsbc Holdings PLC grew its stake in Webull by 19.5% during the 1st quarter. Hsbc Holdings PLC now owns 55,456 shares of the company’s stock worth $264,000 after buying an additional 9,063 shares during the last quarter. Finally, Ritter Alpha LP purchased a new position in Webull during the 1st quarter worth $48,000. 92.48% of the stock is currently owned by institutional investors.

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.