UP Fintech (NASDAQ:TIGR) Stock Price Down 7.6% – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) fell 7.6% during mid-day trading on Thursday . The company traded as low as $7.60 and last traded at $7.65. 6,652,132 shares traded hands during trading, an increase of 91% from the average session volume of 3,481,391 shares. The stock had previously closed at $8.28.

Wall Street Analyst Weigh In

Separately, Citigroup reduced their target price on shares of UP Fintech from $6.49 to $5.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd.

UP Fintech Stock Up 6.3 %

The stock has a market capitalization of $1.35 billion, a PE ratio of 50.71 and a beta of 0.93. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average is $4.76 and its 200 day moving average is $4.28.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). UP Fintech had a return on equity of 5.35% and a net margin of 8.59%. The company had revenue of $87.44 million for the quarter.

Institutional Trading of UP Fintech

Several large investors have recently added to or reduced their stakes in TIGR. Sparta 24 Ltd. acquired a new stake in UP Fintech during the 2nd quarter worth about $6,186,000. Marshall Wace LLP increased its holdings in shares of UP Fintech by 52.8% during the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock valued at $4,671,000 after purchasing an additional 384,213 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of UP Fintech by 6,367.8% in the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock valued at $1,560,000 after purchasing an additional 446,572 shares during the period. GSA Capital Partners LLP boosted its holdings in UP Fintech by 19.8% during the first quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock worth $967,000 after buying an additional 46,394 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in UP Fintech by 162.7% in the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after buying an additional 57,257 shares in the last quarter. Hedge funds and other institutional investors own 9.03% of the company’s stock.

UP Fintech Company Profile

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform; and account management services.