UP Fintech (NASDAQ:TIGR) Shares Down 5.5% – Here’s What Happened

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) were down 5.5% on Tuesday . The company traded as low as $8.25 and last traded at $8.39. Approximately 4,462,911 shares traded hands during trading, a decline of 26% from the average daily volume of 6,054,454 shares. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TIGR. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target for the company.

UP Fintech Price Performance

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 business has a fifty day simple moving average of $7.06 and a 200 day simple moving average of $6.03. The stock has a market capitalization of $1.53 billion, a P/E ratio of 41.50 and a beta of 0.86.

Hedge Funds Weigh In On UP Fintech

Hedge funds have recently bought and sold shares of the company. Voloridge Investment Management LLC purchased a new position in UP Fintech during the fourth quarter worth about $321,000. Vident Advisory LLC lifted its position in shares of UP Fintech by 15.0% during the 4th quarter. Vident Advisory LLC now owns 74,172 shares of the company’s stock worth $479,000 after buying an additional 9,680 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of UP Fintech by 841.6% in the 4th quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after buying an additional 794,500 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of UP Fintech by 808.5% in the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock valued at $11,743,000 after acquiring an additional 1,617,702 shares in the last quarter. Finally, Tairen Capital Ltd purchased a new stake in shares of UP Fintech during the fourth quarter valued at 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.