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

UP Fintech Holding Limited (NASDAQ:TIGR) gapped down prior to trading on Wednesday . The stock had previously closed at $9.69, but opened at $9.41. UP Fintech shares last traded at $9.85, with a volume of 2,943,004 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup upgraded shares of UP Fintech from a “sell” rating to a “neutral” rating and upped their price target for the stock from $5.80 to $9.50 in a research report on Wednesday. Bank of America started coverage on UP Fintech in a research note on Monday. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft began 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 Stock Down 2.9 %

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 firm has a market capitalization of $1.74 billion, a PE ratio of 46.98 and a beta of 0.87. The business has a 50-day moving average price of $7.27 and a 200-day moving average price of $6.55.

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

Institutional Investors Weigh In On UP Fintech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in UP Fintech by 527.2% in the 4th 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. acquired a new position in UP Fintech in the fourth quarter valued at approximately $34,000. Deutsche Bank AG acquired a new position in UP Fintech in the fourth quarter valued at approximately $38,000. GAMMA Investing LLC grew its position in UP Fintech by 51.5% in the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock worth $59,000 after acquiring an additional 3,105 shares during the period. Finally, Tairen Capital Ltd acquired a new stake in UP Fintech during the fourth quarter worth $68,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

About UP Fintech

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.