UP Fintech (NASDAQ:TIGR) Stock Price Down 5.3% – Here’s What Happened

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) were down 5.3% during mid-day trading on Thursday . The company traded as low as $8.62 and last traded at $8.6150. Approximately 3,474,125 shares traded hands during trading, a decline of 32% from the average daily volume of 5,130,576 shares. The stock had previously closed at $9.10.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TIGR shares. UBS Group began coverage on shares of UP Fintech in a research note on Thursday, October 23rd. They issued a “buy” rating and a $13.10 price objective for the company. Jefferies Financial Group assumed coverage on UP Fintech in a report on Monday, September 29th. They issued a “buy” rating and a $12.00 target price for the company. The Goldman Sachs Group reiterated a “sell” rating and set a $4.73 price target on shares of UP Fintech in a report on Friday, December 5th. Wall Street Zen lowered UP Fintech from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of UP Fintech in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, UP Fintech has an average rating of “Moderate Buy” and an average target price of $11.83.

UP Fintech Price Performance

The firm has a market capitalization of $1.62 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.27 and a beta of 0.29. The company has a fifty day moving average of $9.14 and a 200-day moving average of $10.09.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Thursday, December 4th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. UP Fintech had a return on equity of 21.09% and a net margin of 27.42%.The firm had revenue of $175.16 million for the quarter, compared to the consensus estimate of $132.76 million. During the same quarter in the previous year, the company posted $0.11 earnings per share.

Hedge Funds Weigh In On UP Fintech

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in UP Fintech in the second quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of UP Fintech by 205.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 5,094 shares of the company’s stock valued at $49,000 after purchasing an additional 3,427 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of UP Fintech in the 2nd quarter valued at $52,000. SBI Securities Co. Ltd. boosted its holdings in UP Fintech by 22.7% in the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock worth $62,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in UP Fintech in the third quarter worth $66,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.