UP Fintech (NASDAQ:TIGR) Trading Down 5.7% – Time to Sell?

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

Analyst Ratings Changes

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

UP Fintech Price Performance

The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 11.14 and a beta of 0.29. The company’s 50 day moving average is $9.29 and its 200 day moving average is $10.11.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Thursday, December 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $132.76 million. During the same period last year, the company posted $0.11 earnings per share.

Hedge Funds Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently bought and sold shares of TIGR. Acadian Asset Management LLC grew its holdings in UP Fintech by 818.7% in the first quarter. Acadian Asset Management LLC now owns 126,596 shares of the company’s stock valued at $1,085,000 after purchasing an additional 112,816 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of UP Fintech by 22.7% during the 2nd quarter. GAMMA Investing LLC now owns 13,168 shares of the company’s stock worth $127,000 after buying an additional 2,440 shares during the last quarter. Precision Wealth Strategies LLC purchased a new stake in shares of UP Fintech in the 2nd quarter worth about $173,000. Bingham Private Wealth LLC grew its stake in UP Fintech by 21.1% in the 2nd quarter. Bingham Private Wealth LLC now owns 12,752 shares of the company’s stock valued at $123,000 after acquiring an additional 2,219 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in UP Fintech by 14.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,517 shares of the company’s stock valued at $130,000 after acquiring an additional 1,676 shares during the last quarter. 9.03% of the stock is owned by institutional investors and hedge funds.

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.