UP Fintech (NASDAQ:TIGR) Stock Price Down 6.3% – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price traded down 6.3% during trading on Friday . The company traded as low as $5.84 and last traded at $5.85. 863,315 shares changed hands during trading, a decline of 69% from the average session volume of 2,761,428 shares. The stock had previously closed at $6.24.

Wall Street Analysts Forecast Growth

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

UP Fintech Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average of $6.44 and a 200-day moving average of $5.46. The stock has a market capitalization of $1.06 billion, a PE ratio of 28.80 and a beta of 0.86.

Institutional Trading of UP Fintech

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in UP Fintech by 53.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after buying an additional 2,104 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of UP Fintech by 198.6% during the third 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. Asset Management One Co. Ltd. grew its stake in UP Fintech by 38.5% in the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after purchasing an additional 4,377 shares in the last quarter. Headlands Technologies LLC grew its stake in UP Fintech by 100.6% in the second quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock valued at $84,000 after purchasing an additional 10,006 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in UP Fintech in the 3rd quarter worth about $121,000. 9.03% of the stock is currently 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.