Webull (NASDAQ:BULL) Reaches New 52-Week Low – Here’s Why

Webull Corporation (NASDAQ:BULL) reached a new 52-week low on Thursday . The company traded as low as $9.09 and last traded at $9.12, with a volume of 11737983 shares. The stock had previously closed at $9.77.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Webull in a report on Wednesday, October 8th. Rosenblatt Securities started coverage on shares of Webull in a research note on Thursday, September 25th. They issued a “buy” rating and a $19.00 price target on the stock. Zacks Research upgraded shares of Webull to a “hold” rating in a report on Friday, September 5th. Wall Street Zen raised shares of Webull from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Northland Capmk raised Webull to a “strong-buy” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Webull Stock Performance

The stock has a 50-day moving average price of $12.27 and a 200 day moving average price of $13.06. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -8.12 and a beta of -0.17.

Institutional Investors Weigh In On Webull

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harraden Circle Investments LLC purchased a new stake in Webull in the third quarter valued at $2,218,000. Legal & General Group Plc acquired a new stake in shares of Webull during the third quarter worth about $26,000. WINTON GROUP Ltd purchased a new stake in shares of Webull in the 3rd quarter valued at about $1,476,000. Prospera Financial Services Inc purchased a new position in Webull during the 3rd quarter worth approximately $582,000. Finally, J.W. Cole Advisors Inc. purchased a new position in Webull during the 3rd quarter worth approximately $168,000. 92.48% of the stock is currently owned by institutional investors and hedge funds.

Webull Company Profile

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.