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

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $5.67, but opened at $5.50. UP Fintech shares last traded at $5.43, with a volume of 1,296,569 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price for the company in a research report on Thursday, October 24th. Citigroup reiterated a “sell” rating and set a $5.50 price target (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd.

UP Fintech Trading Up 3.1 %

The company has a market capitalization of $1.05 billion, a P/E ratio of 28.40 and a beta of 0.91. The stock’s 50 day moving average is $6.15 and its 200-day moving average is $4.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.15.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings results on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $87.44 million during the quarter. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Institutional Investors Weigh In On UP Fintech

Several hedge funds have recently bought and sold shares of TIGR. Sparta 24 Ltd. increased its stake in shares of UP Fintech by 113.7% during the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after purchasing an additional 1,675,296 shares in the last quarter. Russell Investments Group Ltd. raised its stake in UP Fintech by 6,367.8% during the first quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock valued at $1,560,000 after buying an additional 446,572 shares during the last quarter. Marshall Wace LLP boosted its holdings in UP Fintech by 52.8% in the second quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after acquiring an additional 384,213 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of UP Fintech in the third quarter worth $516,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of UP Fintech by 66.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock valued at $1,090,000 after acquiring an additional 81,300 shares in the last quarter. 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.