UP Fintech (NASDAQ:TIGR) Stock Price Down 7.4% – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price dropped 7.4% on Thursday. The company traded as low as $4.36 and last traded at $4.2490. 1,943,065 shares changed hands during trading, a decline of 40% from the average session volume of 3,245,509 shares. The stock had previously closed at $4.59.

Analysts Set New Price Targets

TIGR has been the subject of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $7.70 price objective on shares of UP Fintech in a research note on Thursday, August 27th. Zacks Research upgraded shares of UP Fintech to a “hold” rating in a research report on Monday, September 14th. Wall Street Zen raised shares of UP Fintech from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a research report on Monday, August 31st. Finally, Citigroup dropped their price objective on shares of UP Fintech to $7.10 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.16.

UP Fintech Price Performance

The company has a market capitalization of $806.04 million, a price-to-earnings ratio of 7.29, a PEG ratio of 0.30 and a beta of 0.51. 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’s 50 day simple moving average is $4.87 and its 200-day simple moving average is $5.41.

Institutional Trading of UP Fintech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sparta 24 Ltd. increased its stake in UP Fintech by 9.1% in the first quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock valued at $36,592,000 after purchasing an additional 482,607 shares during the last quarter. Renaissance Technologies LLC boosted its stake in UP Fintech by 129.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock worth $11,227,000 after buying an additional 1,006,566 shares during the last quarter. Capital International Investors purchased a new stake in UP Fintech in the 4th quarter valued at about $47,855,000. Contrarius Group Holdings Ltd acquired a new position in shares of UP Fintech during the 4th quarter valued at about $10,243,000. Finally, Headlands Technologies LLC purchased a new position in shares of UP Fintech during the 2nd quarter worth about $728,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Company Profile

UP Fintech Holding Limited, operating under the Tiger Brokers brand, is an online brokerage and financial services company focused on serving investors through digital trading platforms. The company provides access to securities markets and offers tools for trading stocks, exchange-traded funds, options, futures and other investment products, subject to the regulations of the markets in which its subsidiaries operate.

Tiger Brokers’ platforms are designed to support individual and institutional investors with services that may include brokerage accounts, margin financing, market data, research, portfolio management tools and new-issue or initial public offering subscription services.