UP Fintech (NASDAQ:TIGR) Shares Down 6.7% – Should You Sell?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price dropped 6.7% during mid-day trading on Tuesday . The company traded as low as $6.09 and last traded at $6.11. Approximately 3,244,473 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 4,765,509 shares. The stock had previously closed at $6.55.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TIGR shares. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a research note on Thursday, October 24th. Citigroup reaffirmed a “sell” rating and issued a $5.50 price target (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd.

UP Fintech Stock Performance

The company has a 50-day simple moving average of $5.98 and a two-hundred day simple moving average of $4.79. The firm has a market capitalization of $1.09 billion, a P/E ratio of 35.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15.

UP Fintech (NASDAQ:TIGR) last announced its earnings results on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). UP Fintech had a net margin of 8.59% and a return on equity of 5.35%. The company had revenue of $87.44 million for the quarter.

Institutional Trading of UP Fintech

Several hedge funds have recently made changes to their positions in the business. Sparta 24 Ltd. raised its position in shares of UP Fintech by 113.7% during the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after buying an additional 1,675,296 shares in the last quarter. Marshall Wace LLP raised its position in UP Fintech by 52.8% in the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after purchasing an additional 384,213 shares during the period. GSA Capital Partners LLP raised its position in UP Fintech by 10.1% in the 3rd quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock worth $3,610,000 after purchasing an additional 62,145 shares during the period. Russell Investments Group Ltd. grew its stake in UP Fintech by 6,367.8% in the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock worth $1,560,000 after acquiring an additional 446,572 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in UP Fintech by 162.7% in the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock worth $388,000 after acquiring an additional 57,257 shares in the last quarter. 9.03% of the stock is currently owned by hedge funds and other 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.