UP Fintech (NASDAQ:TIGR) Shares Gap Down – What’s Next?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) gapped down prior to trading on Friday . The stock had previously closed at $9.10, but opened at $8.86. UP Fintech shares last traded at $8.67, with a volume of 1,852,021 shares changing hands.

Analyst Upgrades and Downgrades

TIGR has been the topic of several analyst reports. Bank of America began coverage on UP Fintech in a research report on Monday, March 17th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price for the company. Finally, Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and raised their price target for the company from $5.80 to $9.50 in a research report on Wednesday, March 19th.

UP Fintech Stock Performance

The firm has a market cap of $1.60 billion, a PE ratio of 43.35 and a beta of 0.87. The company has a 50-day simple moving average of $7.71 and a two-hundred day simple moving average of $6.83. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. The company had revenue of $124.10 million during the quarter, compared to analyst estimates of $73.60 million. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

Hedge Funds Weigh In On UP Fintech

Several institutional investors have recently bought and sold shares of TIGR. Marshall Wace LLP raised its stake in shares of UP Fintech by 492.4% in the fourth quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after buying an additional 4,654,351 shares during the period. Two Sigma Investments LP raised its stake in UP Fintech by 808.5% in the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock valued at $11,743,000 after acquiring an additional 1,617,702 shares during the period. Millennium Management LLC lifted its holdings in UP Fintech by 2,631.2% during the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock valued at $10,471,000 after purchasing an additional 1,561,617 shares during the last quarter. Contrarius Group Holdings Ltd bought a new position in UP Fintech during the fourth quarter worth about $8,105,000. Finally, Two Sigma Advisers LP increased its stake in shares of UP Fintech by 841.6% in the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after purchasing an additional 794,500 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 services.