Webull (NASDAQ:BULL) Shares Gap Down – Should You Sell?

Webull Corporation (NASDAQ:BULL) gapped down before the market opened on Wednesday. The stock had previously closed at $7.28, but opened at $5.83. Webull shares last traded at $5.8250, with a volume of 35,943,899 shares traded.

Key Stories Impacting Webull

Here are the key news stories impacting Webull this week:

• Positive Sentiment: Webull recently reported a record quarterly revenue result of approximately $198.8 million, representing 51.2% year-over-year growth, and earnings that exceeded analyst expectations. However, this fundamental strength has been overshadowed by the congressional report. Levi & Korsinsky Webull investigation notice

Wall Street Analyst Weigh In

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

Webull Stock Performance

The firm has a fifty day moving average of $8.13 and a 200-day moving average of $7.11. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 74.38 and a beta of 0.64.

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

Insiders Place Their Bets

In other Webull news, CFO Haichen Wang sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $8.98, for a total value of $493,900.00. Following the completion of the transaction, the chief financial officer owned 772,046 shares in the company, valued at $6,932,973.08. This represents a 6.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Benjamin James sold 50,273 shares of Webull stock in a transaction that occurred on 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 in the company, valued at $10,381,938.82. This represents a 4.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 320,659 shares of company stock worth $2,781,375 in the last 90 days. 35.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webull

A number of large investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP acquired a new position in Webull in the 1st quarter worth $1,584,000. Tidal Investments LLC increased its position in shares of Webull by 148.8% during 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 last quarter. Corient Private Wealth LP increased its position in shares of Webull by 76.4% during the second quarter. Corient Private Wealth LP now owns 406,761 shares of the company’s stock worth $2,652,000 after acquiring an additional 176,233 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Webull by 321.3% in the first quarter. Renaissance Technologies LLC now owns 1,535,199 shares of the company’s stock worth $7,369,000 after acquiring an additional 1,170,799 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Webull in the fourth quarter worth about $799,000. 92.48% of the stock is owned by institutional investors and hedge funds.

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.