UP Fintech (NASDAQ:TIGR) Trading Down 4.6% – What’s Next?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) fell 4.6% during trading on Thursday . The company traded as low as $5.24 and last traded at $5.2090. 361,418 shares were traded during mid-day trading, a decline of 89% from the average session volume of 3,417,427 shares. The stock had previously closed at $5.46.

Analyst Ratings Changes

TIGR has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $7.70 price target on shares of UP Fintech in a report on Thursday. Bank of America reiterated a “buy” rating on shares of UP Fintech in a research report on Monday, June 1st. Wall Street Zen raised UP Fintech from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Citigroup cut their target price on UP Fintech to $7.10 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.16.

UP Fintech Stock Performance

The firm has a market cap of $957.99 million, a P/E ratio of 8.56 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average is $4.79 and its two-hundred day moving average is $5.92.

Insiders Place Their Bets

In other UP Fintech news, Director Jian Liu sold 9,333 shares of UP Fintech stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $4.60, for a total transaction of $42,931.80. Following the transaction, the director directly owned 62,665 shares of the company’s stock, valued at $288,259. The trade was a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 50.90% of the company’s stock.

Institutional Investors Weigh In On UP Fintech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sparta 24 Ltd. lifted its position in shares of UP Fintech by 9.1% during the 1st quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock worth $36,592,000 after buying an additional 482,607 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of UP Fintech by 129.8% in the first quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock valued at $11,227,000 after acquiring an additional 1,006,566 shares in the last quarter. Capital International Investors purchased a new stake in shares of UP Fintech during the 4th quarter valued at $47,855,000. Jupiter Asset Management Ltd. increased its holdings in UP Fintech by 157.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company’s stock worth $40,307,000 after buying an additional 2,577,459 shares during the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new stake in shares of UP Fintech during the 4th quarter worth approximately $10,243,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.

About UP Fintech

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.