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

UP Fintech Holding Limited (NASDAQ:TIGR) gapped down before the market opened on Monday . The stock had previously closed at $8.20, but opened at $7.90. UP Fintech shares last traded at $7.14, with a volume of 5,341,248 shares trading hands.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective on the stock.

UP Fintech Price Performance

The stock’s fifty day moving average price is $7.08 and its two-hundred day moving average price is $6.16. 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 firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 38.65 and a beta of 0.86.

Hedge Funds Weigh In On UP Fintech

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after purchasing an additional 9,748 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after acquiring an additional 4,377 shares during the last quarter. GSA Capital Partners LLP increased its position in UP Fintech by 10.1% during the 3rd quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock worth $3,610,000 after purchasing an additional 62,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in UP Fintech by 66.2% in the 3rd 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 purchasing an additional 81,300 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in UP Fintech in the 3rd quarter valued at about $209,000. 9.03% of the stock is 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.