UP Fintech (NASDAQ:TIGR) Trading Down 5.2% – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) traded down 5.2% during mid-day trading on Tuesday . The stock traded as low as $6.39 and last traded at $6.42. 2,478,296 shares were traded during mid-day trading, a decline of 30% from the average session volume of 3,549,045 shares. The stock had previously closed at $6.77.

Wall Street Analysts Forecast Growth

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

UP Fintech Price Performance

The firm has a 50-day simple moving average of $6.46 and a two-hundred day simple moving average of $5.58. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 34.55 and a beta of 0.86. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake 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 acquiring an additional 2,104 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of UP Fintech by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock worth $437,000 after acquiring an additional 4,082 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of UP Fintech by 38.5% during the 3rd 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. Blue Trust Inc. boosted its stake in shares of UP Fintech by 198.6% during the 3rd 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. Finally, Diversify Advisory Services LLC purchased a new stake in shares of UP Fintech during the 4th quarter worth about $119,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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.