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

UP Fintech Holding Limited (NASDAQ:TIGR) gapped down before the market opened on Wednesday . The stock had previously closed at $5.47, but opened at $5.21. UP Fintech shares last traded at $5.2770, with a volume of 1,534,958 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of UP Fintech from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $7.70 price objective on shares of UP Fintech in a report on Thursday. Citigroup decreased their price objective on shares of UP Fintech to $7.10 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Bank of America reaffirmed a “buy” rating on shares of UP Fintech in a research report on Monday, June 1st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.16.

UP Fintech Stock Down 7.3%

The stock has a market capitalization of $959.88 million, a price-to-earnings ratio of 8.58 and a beta of 0.48. The firm’s fifty day moving average is $4.78 and its 200-day moving average is $5.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Buying and Selling at UP Fintech

In other news, Director Jian Liu sold 9,333 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $4.60, for a total value of $42,931.80. Following the sale, the director owned 62,665 shares in the company, valued at approximately $288,259. This represents a 12.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 50.90% of the company’s stock.

Hedge Funds Weigh In On UP Fintech

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in UP Fintech in the second quarter valued at about $33,000. GeoWealth Management LLC bought a new position in UP Fintech during the 4th quarter worth approximately $35,000. Brooklyn Investment Group bought a new position in UP Fintech during the 4th quarter worth approximately $94,000. Hsbc Holdings PLC acquired a new position in shares of UP Fintech in the 1st quarter worth approximately $67,000. Finally, Quarry LP acquired a new position in shares of UP Fintech in the 3rd quarter worth approximately $121,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.