UP Fintech (NASDAQ:TIGR) Trading Down 4.6% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) fell 4.6% during mid-day trading on Wednesday . The stock traded as low as $6.96 and last traded at $6.92. 4,425,704 shares were traded during mid-day trading, an increase of 7% from the average session volume of 4,146,912 shares. The stock had previously closed at $7.25.

Analyst Ratings Changes

Several brokerages recently issued reports on TIGR. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price target on the stock. Finally, Citigroup reiterated a “sell” rating and set a $5.50 target price (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd.

UP Fintech Trading Down 5.9 %

The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 34.10 and a beta of 0.86. The company has a 50 day moving average of $6.53 and a 200 day moving average of $5.65. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TIGR. GAMMA Investing LLC increased its stake in shares of UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after buying an additional 2,104 shares in the last quarter. Geode Capital Management LLC increased its position in UP Fintech by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock valued at $437,000 after acquiring an additional 4,082 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of UP Fintech by 38.5% in the third 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 during the last quarter. Blue Trust Inc. lifted its position in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares in the last quarter. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of UP Fintech during the fourth quarter valued at approximately $91,000. 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.