TLDR
- Webull Corp. (NASDAQ:BULL) stock dropped 6.3% on Wednesday after a 3 million share block trade executed at $12.50 per share, representing a 2.3% discount to the previous close.
- The block trade was worth $37.5 million and occurred at 8 a.m. New York time, representing about 1.3% of the company’s float and 16% of its 20-day average trading volume.
- This marks the third major block trade in two weeks, with combined trades totaling 3.1 million shares worth $43.8 million.
- The stock gapped down from $12.80 to $12.19 before opening on Wednesday, with trading volume exceeding 57 million shares.
- Analyst ratings remain mixed with a consensus “Moderate Buy” rating and an $18.00 price target, while 92.48% of shares are held by institutional investors.
Webull Corp stock fell 6.3% on Wednesday following another large block trade. The transaction involved 3 million Class A shares.
The block traded at $12.50 per share. That price represented a 2.3% discount from Tuesday’s closing price.
The trade happened at 8 a.m. New York time. The total value came to $37.5 million.
This block represented about 1.3% of Webull’s float. It also made up 16% of the company’s 20-day average trading volume.
The stock opened Wednesday at $12.19 after gapping down from the previous close of $12.80. By the time regular trading got underway, shares were changing hands at $12.02.
Trading volume reached over 57 million shares. That’s well above typical levels for the stock.
Recent Trading Pattern Emerges
This marks the third block trade for Webull in the past two weeks. The pattern is starting to look familiar to market watchers.
Over this period, three blocks totaling 3.1 million shares have changed hands. The combined market value of these transactions hit $43.8 million.
Tuesday was already rough for Webull shareholders. The stock fell 6.6% during that session.
Two consecutive days of losses have investors paying attention. The selling pressure appears to be coming from institutional holders.
Analyst Views and Institutional Holdings
Analyst opinions on Webull remain divided. Northland Securities initiated coverage in early September with an “outperform” rating and $18.00 price target.
Weiss Ratings maintained a “sell (d)” rating in late September. Zacks Research moved to a “hold” rating in early September.
Wall Street Zen upgraded shares from “sell” to “hold” in late August. The consensus rating currently sits at “Moderate Buy” with a consensus price target of $18.50.
One analyst has issued a “strong buy” rating. Two have “buy” ratings on the stock.
One analyst rates it a “hold.” Another has a “sell” rating.
The company’s technical metrics show a 50-day moving average of $14.21. Current trading sits well below that level.
Webull has a quick ratio of 1.42 and a current ratio of 1.42. The debt-to-equity ratio stands at 0.13.
The market cap is $5.89 billion. The stock carries a PE ratio of -10.63 and a beta of -0.15.
Institutional investors own 92.48% of Webull shares. Several new positions were established in the second quarter.
Osaic Holdings Inc. acquired a new position worth approximately $30,000. Tower Research Capital LLC TRC picked up shares valued at around $69,000.
Quantbot Technologies LP established a position worth approximately $71,000. Militia Capital Partners LP acquired shares valued at roughly $96,000.
Sequoia Financial Advisors LLC took a position worth approximately $120,000. The high institutional ownership makes these block trades particularly interesting.
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