UP Fintech (NASDAQ:TIGR) Shares Down 2.2% – Should You Sell?

UP Fintech Holding Limited (NASDAQ:TIGR) shares were down 2.2% during mid-day trading on Thursday . The stock traded as low as $7.18 and last traded at $7.21. Approximately 984,668 shares traded hands during trading, a decline of 80% from the average daily volume of 5,041,139 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

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

UP Fintech Trading Down 1.6 %

The firm has a market cap of $1.34 billion, a PE ratio of 36.25 and a beta of 0.88. The firm has a fifty day simple moving average of $6.46 and a two-hundred day simple moving average of $5.29. 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 Investors Weigh In On UP Fintech

Several institutional investors and hedge funds have recently modified their holdings of TIGR. GAMMA Investing LLC raised its stake in UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after buying 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 purchased a new position in shares of UP Fintech in the 2nd quarter valued at approximately $78,000. Asset Management One Co. Ltd. boosted its position in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after purchasing an additional 4,377 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in UP Fintech by 100.6% in the second quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock worth $84,000 after purchasing an additional 10,006 shares during the period. 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.