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 $9.69, but opened at $9.41. UP Fintech shares last traded at $9.85, with a volume of 2,943,004 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on TIGR. Bank of America began coverage on shares of UP Fintech in a research report on Monday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price for the company. Finally, Citigroup upgraded shares of UP Fintech from a “sell” rating to a “neutral” rating and boosted their target price for the company from $5.80 to $9.50 in a research report on Wednesday.

UP Fintech Stock Down 8.3 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The business’s fifty day simple moving average is $7.39 and its two-hundred day simple moving average is $6.59. The company has a market cap of $1.64 billion, a PE ratio of 44.30 and a beta of 0.87.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The company had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $73.60 million. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

Institutional Trading of UP Fintech

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Voloridge Investment Management LLC purchased a new stake in shares of UP Fintech during the fourth quarter worth about $321,000. Vident Advisory LLC increased its stake in shares of UP Fintech by 15.0% during the fourth quarter. Vident Advisory LLC now owns 74,172 shares of the company’s stock worth $479,000 after purchasing an additional 9,680 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of UP Fintech by 841.6% during the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after purchasing an additional 794,500 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after purchasing an additional 1,617,702 shares in the last quarter. Finally, Tairen Capital Ltd purchased a new stake in shares of UP Fintech during the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.

UP Fintech Company Profile

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.