UP Fintech (NASDAQ:TIGR) Trading Down 6.3% – What’s Next?

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup reaffirmed a “sell” rating and set a $5.50 price target (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price on the stock. Finally, 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 report on Thursday, October 24th.

UP Fintech Stock Down 7.1 %

The firm’s 50-day moving average price is $6.45 and its 200 day moving average price is $5.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 29.00 and a beta of 0.86.

Hedge Funds Weigh In On UP Fintech

A number of institutional investors have recently modified their holdings of TIGR. GAMMA Investing LLC raised its stake in UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after acquiring an additional 2,104 shares in the last quarter. Geode Capital Management LLC lifted its stake in UP Fintech by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock valued at $437,000 after purchasing an additional 4,082 shares during the last quarter. Asset Management One Co. Ltd. boosted its position 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 buying an additional 4,377 shares in the last quarter. Blue Trust Inc. grew its stake 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 buying an additional 9,748 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of UP Fintech by 100.6% during the second quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock worth $84,000 after buying an additional 10,006 shares in the last quarter. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.