UP Fintech (NASDAQ:TIGR) Shares Down 5.7% – Here’s What Happened

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) dropped 5.7% during mid-day trading on Tuesday . The stock traded as low as $9.67 and last traded at $9.7350. Approximately 1,985,850 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 5,521,291 shares. The stock had previously closed at $10.32.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group assumed coverage on UP Fintech in a research note on Thursday, October 23rd. They set a “buy” rating and a $13.10 price target for the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $4.73 price objective on shares of UP Fintech in a report on Friday, December 5th. Jefferies Financial Group assumed coverage on UP Fintech in a research report on Monday, September 29th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of UP Fintech from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, UP Fintech has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

UP Fintech Stock Performance

The company has a market cap of $1.74 billion, a PE ratio of 11.38 and a beta of 0.29. The company has a fifty day moving average of $9.36 and a two-hundred day moving average of $10.12.

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

Institutional Trading of UP Fintech

Several institutional investors have recently added to or reduced their stakes in TIGR. Acadian Asset Management LLC grew its stake in shares of UP Fintech by 818.7% during the first quarter. Acadian Asset Management LLC now owns 126,596 shares of the company’s stock valued at $1,085,000 after buying an additional 112,816 shares during the last quarter. GAMMA Investing LLC grew its position in UP Fintech by 22.7% in the 2nd quarter. GAMMA Investing LLC now owns 13,168 shares of the company’s stock valued at $127,000 after acquiring an additional 2,440 shares during the last quarter. Precision Wealth Strategies LLC purchased a new stake in UP Fintech in the second quarter worth $173,000. Bingham Private Wealth LLC lifted its position in shares of UP Fintech by 21.1% during the second quarter. Bingham Private Wealth LLC now owns 12,752 shares of the company’s stock worth $123,000 after purchasing an additional 2,219 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of UP Fintech by 14.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,517 shares of the company’s stock valued at $130,000 after purchasing an additional 1,676 shares during the period. Institutional investors 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.