UP Fintech (NASDAQ:TIGR) Trading Down 7.1% – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR) traded down 7.1% during mid-day trading on Tuesday . The company traded as low as $10.60 and last traded at $10.3310. 4,860,802 shares changed hands during trading, a decline of 19% from the average session volume of 6,009,166 shares. The stock had previously closed at $11.12.

Analyst Ratings Changes

TIGR has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on UP Fintech in a research note on Monday, September 29th. They issued a “buy” rating and a $12.00 target price on the stock. Wall Street Zen cut shares of UP Fintech from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. UBS Group started coverage on UP Fintech in a report on Thursday, October 23rd. They set a “buy” rating and a $13.10 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $4.73 target price on shares of UP Fintech in a research report on Friday, December 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Trading Up 0.3%

The firm has a market cap of $1.85 billion, a PE ratio of 12.07 and a beta of 0.29. The firm has a fifty day simple moving average of $9.39 and a two-hundred day simple moving average of $10.09.

UP Fintech (NASDAQ:TIGR) last announced 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 company had revenue of $175.16 million during the quarter, compared to the consensus estimate of $132.76 million. During the same quarter in the prior year, the company earned $0.11 earnings per share.

Institutional Investors Weigh In On UP Fintech

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of UP Fintech during the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd grew 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 worth $49,000 after acquiring an additional 3,427 shares during the period. First Horizon Advisors Inc. purchased a new position in shares of UP Fintech during the 2nd quarter worth approximately $52,000. Bayforest Capital Ltd bought a new stake in shares of UP Fintech during the third quarter valued at approximately $66,000. Finally, SBI Securities Co. Ltd. grew its stake 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 during the period. 9.03% of the stock is owned by hedge funds and other institutional investors.

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.