UP Fintech (NASDAQ:TIGR) Hits New 52-Week Low – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) shares reached a new 52-week low on Thursday . The stock traded as low as $6.36 and last traded at $6.3870, with a volume of 1485839 shares changing hands. The stock had previously closed at $6.60.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TIGR shares. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UP Fintech in a research note on Wednesday, January 21st. Finally, Citigroup raised their price objective on UP Fintech to $17.50 and gave the company a “buy” rating in a research note on Friday, December 5th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.83.

UP Fintech Stock Down 2.1%

The stock has a market cap of $1.13 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.22 and a beta of 0.43. The company’s 50 day moving average price is $7.85 and its two-hundred day moving average price is $9.12. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.06.

UP Fintech (NASDAQ:TIGR) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.18 by $0.08. UP Fintech had a return on equity of 21.87% and a net margin of 28.82%.The firm had revenue of $156.54 million for the quarter, compared to analyst estimates of $142.01 million.

Hedge Funds Weigh In On UP Fintech

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in UP Fintech during the second quarter valued at approximately $33,000. GeoWealth Management LLC purchased a new position in UP Fintech during the 4th quarter worth approximately $35,000. Bayforest Capital Ltd acquired a new position in UP Fintech during the third quarter valued at $66,000. SBI Securities Co. Ltd. boosted its stake in shares of UP Fintech by 21.2% in the third quarter. SBI Securities Co. Ltd. now owns 7,737 shares of the company’s stock worth $83,000 after buying an additional 1,355 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of UP Fintech during the 4th quarter valued at approximately $94,000. 9.03% of the stock is currently owned by institutional investors.

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.