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

by · The Markets Daily

UP Fintech Holding Limited (NASDAQ:TIGR – Get Free Report) shares fell 5.2% during trading on Tuesday . The stock traded as low as $6.39 and last traded at $6.42. 2,478,296 shares changed hands during 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 Analyst Weigh In

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

View Our Latest Research Report on UP Fintech

UP Fintech Trading Down 3.9 %

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’s 50 day simple moving average is $6.40 and its two-hundred day simple moving average is $5.55. The stock has a market capitalization of $1.20 billion, a P/E ratio of 32.53 and a beta of 0.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted 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 valued at $32,000 after buying an additional 2,104 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $437,000 after buying an additional 4,082 shares in the last quarter. Asset Management One Co. Ltd. lifted 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 valued at $84,000 after buying an additional 4,377 shares in the last quarter. Blue Trust Inc. lifted 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 valued at $78,000 after buying 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 valued at approximately $119,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

About UP Fintech

(Get Free Report)

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.

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