UP Fintech (NASDAQ:TIGR) Stock Price Down 5.3% – Should You Sell?

UP Fintech Holding Limited (NASDAQ:TIGR) was down 5.3% during mid-day trading on Thursday . The stock traded as low as $8.62 and last traded at $8.6150. Approximately 3,474,125 shares were traded during trading, a decline of 32% from the average daily volume of 5,130,576 shares. The stock had previously closed at $9.10.

Analyst Ratings Changes

Several research firms have recently issued reports on TIGR. UBS Group began coverage on shares of UP Fintech in a report on Thursday, October 23rd. They set a “buy” rating and a $13.10 target price for the company. Wall Street Zen downgraded UP Fintech from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a research note on Wednesday, October 8th. Citigroup upped their target price on UP Fintech to $17.50 and gave the company a “buy” rating in a research report on Friday, December 5th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $4.73 price objective on shares of UP Fintech in a report on Friday, December 5th. Four research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Price Performance

The business’s 50 day simple moving average is $9.19 and its 200 day simple moving average is $10.10. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 10.43 and a beta of 0.29.

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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Sparta 24 Ltd. lifted its position in shares of UP Fintech by 71.2% in the second quarter. Sparta 24 Ltd. now owns 6,260,946 shares of the company’s stock worth $60,418,000 after buying an additional 2,603,842 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of UP Fintech in the second quarter valued at $24,456,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of UP Fintech by 282.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company’s stock worth $31,335,000 after acquiring an additional 2,397,261 shares during the period. National Bank of Canada FI boosted its holdings in UP Fintech by 450.4% during the third quarter. National Bank of Canada FI now owns 1,976,720 shares of the company’s stock valued at $21,092,000 after purchasing an additional 1,617,600 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in UP Fintech in the 2nd quarter valued at $12,993,000. 9.03% of the stock is currently owned by 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.