UP Fintech (NASDAQ:TIGR) Shares Gap Down – Here’s What Happened

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

TIGR has been the subject of a number of recent analyst reports. Bank of America initiated coverage on shares of UP Fintech in a research note on Monday, March 17th. They issued a “buy” rating for the company. Citigroup upgraded UP Fintech from a “sell” rating to a “neutral” rating and lifted their price target for the company from $5.80 to $9.50 in a report on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective for the company.

UP Fintech Trading Down 4.8 %

The business’s 50-day simple moving average is $7.68 and its 200-day simple moving average is $6.77. The company has a market cap of $1.60 billion, a PE ratio of 43.48 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of UP Fintech by 51.5% during the 4th 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 last quarter. Tower Research Capital LLC TRC increased its position 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 worth $30,000 after buying an additional 3,901 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of UP Fintech by 5.2% in the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock worth $437,000 after buying an additional 4,082 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of UP Fintech during the 4th quarter worth about $34,000. Finally, Deutsche Bank AG acquired a new position in shares of UP Fintech during the 4th quarter valued at about $38,000. Institutional investors own 9.03% of the company’s stock.

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.