UP Fintech (NASDAQ:TIGR) Shares Gap Down – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped down prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

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

UP Fintech Stock Performance

The stock has a market cap of $1.31 billion, a PE ratio of 35.38 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day moving average of $7.10 and a two-hundred day moving average of $6.11.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in UP Fintech by 527.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $30,000 after acquiring an additional 3,901 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of UP Fintech in the fourth quarter valued at approximately $34,000. Deutsche Bank AG acquired a new position in UP Fintech in the 4th quarter valued at $38,000. GAMMA Investing LLC increased its stake in shares of UP Fintech by 51.5% during the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock worth $59,000 after acquiring an additional 3,105 shares during the period. Finally, Tairen Capital Ltd purchased a new position in shares of UP Fintech during the 4th quarter worth approximately $68,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

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.