UP Fintech (NASDAQ:TIGR) Shares Gap Down – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) gapped down prior to trading on Wednesday . The stock had previously closed at $5.47, but opened at $5.21. UP Fintech shares last traded at $5.2770, with a volume of 1,534,958 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Bank of America reissued a “buy” rating on shares of UP Fintech in a research report on Monday, June 1st. Wall Street Zen cut UP Fintech from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Citigroup cut their target price on UP Fintech to $7.10 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.23.

UP Fintech Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.03 billion, a P/E ratio of 9.03 and a beta of 0.48. The company has a 50 day moving average price of $4.76 and a 200-day moving average price of $5.96.

Insider Transactions at UP Fintech

In other UP Fintech news, Director Jian Liu sold 9,333 shares of UP Fintech stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $4.60, for a total value of $42,931.80. Following the transaction, the director owned 62,665 shares in the company, valued at $288,259. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of UP Fintech

A number of hedge funds and other institutional investors have recently modified their holdings of TIGR. AXQ Capital LP acquired a new position in shares of UP Fintech during the second quarter worth $72,000. Headlands Technologies LLC acquired a new stake in shares of UP Fintech during the 2nd quarter valued at $728,000. Public Employees Retirement System of Ohio bought a new stake in shares of UP Fintech during the second quarter worth about $76,000. Handelsbanken Fonder AB grew its holdings in UP Fintech by 35.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock worth $165,000 after acquiring an additional 9,800 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of UP Fintech by 129.8% in the first quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock worth $11,227,000 after purchasing an additional 1,006,566 shares during the last quarter. Institutional investors own 9.03% of the company’s stock.

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.