UP Fintech (NASDAQ:TIGR) Trading Down 6.3% – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) traded down 6.3% on Friday . The company traded as low as $5.84 and last traded at $5.85. 863,315 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 2,761,428 shares. The stock had previously closed at $6.24.

Analyst Ratings Changes

Several research analysts have commented on TIGR shares. Citigroup reaffirmed a “sell” rating and set a $5.50 target price (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective on the stock. Finally, China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price for the company in a research note on Thursday, October 24th.

UP Fintech Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day simple moving average of $6.45 and a two-hundred day simple moving average of $5.44. The firm has a market capitalization of $1.07 billion, a P/E ratio of 29.00 and a beta of 0.86.

Institutional Investors Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after purchasing an additional 2,104 shares in the last quarter. Blue Trust Inc. boosted its holdings in UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after acquiring an additional 9,748 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in UP Fintech by 38.5% in the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after acquiring an additional 4,377 shares in the last quarter. Headlands Technologies LLC grew its stake in UP Fintech by 100.6% in the second quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock valued at $84,000 after acquiring an additional 10,006 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of UP Fintech during the third quarter valued at approximately $121,000. 9.03% of the stock is owned by institutional investors.

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 services.