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

UP Fintech Holding Limited (NASDAQ:TIGR) shares 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 traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TIGR. 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. Citigroup reiterated a “sell” rating and issued a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd.

UP Fintech Stock Performance

The company has a market cap of $1.03 billion, a price-to-earnings ratio of 28.35 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $6.07 and its 200 day simple moving average is $4.81.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The business had revenue of $87.44 million during the quarter. UP Fintech had a net margin of 9.14% and a return on equity of 6.22%.

Institutional Trading of UP Fintech

Several hedge funds have recently made changes to their positions in the company. Sparta 24 Ltd. grew its stake in shares of UP Fintech by 113.7% in the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after buying an additional 1,675,296 shares during the period. Marshall Wace LLP grew its stake in shares of UP Fintech by 52.8% in the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock valued at $4,671,000 after buying an additional 384,213 shares during the period. GSA Capital Partners LLP grew its stake in shares of UP Fintech by 10.1% in the 3rd quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock valued at $3,610,000 after buying an additional 62,145 shares during the period. Russell Investments Group Ltd. grew its stake in shares of UP Fintech by 6,367.8% in the 1st 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 buying an additional 81,300 shares during the period. Hedge funds and other institutional investors 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.