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

UP Fintech Holding Limited (NASDAQ:TIGR) shares gapped down before the market opened on Friday . The stock had previously closed at $8.30, but opened at $7.42. UP Fintech shares last traded at $7.08, with a volume of 2,228,279 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on TIGR. Bank of America assumed coverage on shares of UP Fintech in a research report on Monday, March 17th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target for the company. Finally, Citigroup upgraded UP Fintech from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $5.80 to $9.50 in a research report on Wednesday, March 19th.

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’s 50 day moving average price is $7.87 and its two-hundred day moving average price is $7.00. The stock has a market cap of $1.34 billion, a P/E ratio of 36.20 and a beta of 0.65.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. The business had revenue of $124.10 million for the quarter, compared to analysts’ expectations of $73.60 million. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Hedge Funds Weigh In On UP Fintech

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIGR. Tower Research Capital LLC TRC increased its stake in shares of UP Fintech by 527.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after acquiring an additional 3,901 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in UP Fintech in the fourth quarter worth about $34,000. Deutsche Bank AG bought a new position in shares of UP Fintech during the fourth quarter valued at approximately $38,000. GAMMA Investing LLC lifted its holdings 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 valued at $59,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Tairen Capital Ltd bought a new stake in shares of UP Fintech in the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.

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.