UP Fintech (NASDAQ:TIGR) Shares Gap Down – Should You Sell?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.32, but opened at $7.90. UP Fintech shares last traded at $8.30, with a volume of 2,804,535 shares traded.

Wall Street Analysts Forecast Growth

TIGR has been the topic of a number of research reports. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective on the stock. Finally, Citigroup reaffirmed a “sell” rating and set a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd.

UP Fintech Stock Up 0.8 %

The business has a 50-day moving average price of $6.88 and a two-hundred day moving average price of $5.87. 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 cap of $1.55 billion, a PE ratio of 42.03 and a beta of 0.86.

Institutional Trading of UP Fintech

A number of large investors have recently modified their holdings of the stock. Sparta 24 Ltd. increased its holdings in 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 during the last quarter. Contrarius Group Holdings Ltd purchased a new position in UP Fintech in the fourth quarter valued at $8,105,000. State Street Corp increased its holdings in UP Fintech by 4.8% in the third quarter. State Street Corp now owns 742,452 shares of the company’s stock valued at $3,965,000 after buying an additional 34,186 shares during the last quarter. GSA Capital Partners LLP increased its holdings in UP Fintech by 10.1% in the third quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock valued at $3,610,000 after buying an additional 62,145 shares during the last quarter. Finally, Dorsey Wright & Associates purchased a new position in shares of UP Fintech during the fourth quarter worth about $2,579,000. Hedge funds and other 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.