UP Fintech (NASDAQ:TIGR) Stock Price Down 4.6% – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price traded down 4.6% during trading on Wednesday . The stock traded as low as $6.96 and last traded at $6.92. 4,425,704 shares changed hands 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TIGR. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a research report on Thursday, October 24th. Citigroup reaffirmed a “sell” rating and issued a $5.50 price target (up previously from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft started 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 on the stock.

UP Fintech Price Performance

The company’s fifty day moving average is $6.59 and its two-hundred day moving average is $5.67. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 35.25 and a beta of 0.86.

Institutional Trading of UP Fintech

A number of institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new position in UP Fintech in the 3rd quarter valued at approximately $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in UP Fintech by 66.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after acquiring an additional 81,300 shares in the last quarter. Sparta 24 Ltd. lifted its stake in shares of UP Fintech by 113.7% in the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after buying an additional 1,675,296 shares in the last quarter. Virtu Financial LLC bought a new position in shares of UP Fintech in the third quarter valued at $539,000. Finally, Diversify Wealth Management LLC bought a new position in shares of UP Fintech during the fourth quarter valued at about $742,000. 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.