UP Fintech (NASDAQ:TIGR) Stock Price Down 7.9% – Time to Sell?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) fell 7.9% on Wednesday . The company traded as low as $8.43 and last traded at $8.3750. 2,763,087 shares traded hands during trading, a decline of 53% from the average session volume of 5,835,702 shares. The stock had previously closed at $9.09.

Analyst Ratings Changes

Several research firms have commented on TIGR. 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 report on Wednesday, October 8th. UBS Group started coverage on shares of UP Fintech in a research report on Thursday, October 23rd. They set a “buy” rating and a $13.10 target price on the stock. Finally, Jefferies Financial Group began coverage on shares of UP Fintech in a research note on Monday, September 29th. They set a “buy” rating and a $12.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.13.

UP Fintech Stock Up 4.4%

The stock has a 50 day moving average of $10.16 and a 200 day moving average of $10.00. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.53 and a beta of 0.53.

Hedge Funds Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB grew its holdings in UP Fintech by 60.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,000 shares of the company’s stock worth $171,000 after acquiring an additional 6,000 shares during the period. PharVision Advisers LLC acquired a new position in shares of UP Fintech in the 3rd quarter valued at about $734,000. Voloridge Investment Management LLC bought a new stake in shares of UP Fintech during the 3rd quarter valued at about $7,178,000. Susquehanna Fundamental Investments LLC acquired a new stake in UP Fintech during the third quarter worth approximately $3,850,000. Finally, Polymer Capital Management HK LTD acquired a new stake in UP Fintech during the third quarter worth approximately $2,638,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

UP Fintech Company Profile

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.