UP Fintech (NASDAQ:TIGR) Stock Price Down 5.5% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price was down 5.5% during mid-day trading on Tuesday . The company traded as low as $8.25 and last traded at $8.39. Approximately 4,462,911 shares changed hands during trading, a decline of 26% from the average daily volume of 6,054,454 shares. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

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

UP Fintech Stock Down 3.5 %

The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 42.80 and a beta of 0.86. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $7.04 and its 200 day moving average is $6.02.

Institutional Trading of UP Fintech

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in UP Fintech by 527.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $30,000 after purchasing an additional 3,901 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of UP Fintech during the 4th quarter worth $34,000. Deutsche Bank AG acquired a new position in shares of UP Fintech in the 4th quarter worth $38,000. GAMMA Investing LLC raised its position in shares of UP Fintech by 51.5% during the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock worth $59,000 after purchasing an additional 3,105 shares during the period. Finally, Tairen Capital Ltd purchased a new stake in shares of UP Fintech during the fourth quarter valued at $68,000. 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 services.