UP Fintech (NASDAQ:TIGR) Shares Down 4.3% – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR) shares dropped 4.3% during mid-day trading on Wednesday . The company traded as low as $7.38 and last traded at $7.41. Approximately 2,666,546 shares changed hands during trading, a decline of 47% from the average daily volume of 5,076,920 shares. The stock had previously closed at $7.74.

Analyst Ratings Changes

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

UP Fintech Stock Down 8.7 %

The firm has a market capitalization of $1.31 billion, a PE ratio of 35.35 and a beta of 0.88. The company has a fifty day simple moving average of $6.52 and a two-hundred day simple moving average of $5.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of UP Fintech by 53.6% in the 3rd 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. Blue Trust Inc. raised its position in shares of UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after acquiring an additional 9,748 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of UP Fintech in the 2nd quarter worth $78,000. Asset Management One Co. Ltd. raised its position in shares of UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after acquiring an additional 4,377 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in shares of UP Fintech by 100.6% in the 2nd quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock worth $84,000 after acquiring an additional 10,006 shares in the last quarter. 9.03% of the stock is owned by institutional investors.

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.