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

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.25, but opened at $6.75. UP Fintech shares last traded at $6.59, with a volume of 2,814,851 shares changing hands.

Wall Street Analysts Forecast Growth

TIGR has been the topic of a number of analyst reports. Citigroup reaffirmed a “sell” rating and set a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a research report on Thursday, October 24th.

UP Fintech Stock Down 14.2 %

The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $5.92 and a 200-day simple moving average of $4.74. The company has a market cap of $1.15 billion, a PE ratio of 36.59 and a beta of 0.91.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $87.44 million for the quarter. UP Fintech had a return on equity of 5.35% and a net margin of 8.59%.

Hedge Funds Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently made changes to their positions in TIGR. GSA Capital Partners LLP raised its stake in UP Fintech by 10.1% in the 3rd quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock valued at $3,610,000 after purchasing an additional 62,145 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of UP Fintech by 38.5% in the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after purchasing an additional 4,377 shares in the last quarter. Sparta 24 Ltd. increased its stake in shares of UP Fintech by 113.7% in the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after acquiring an additional 1,675,296 shares during the last quarter. Blue Trust Inc. increased its position in UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after buying an additional 2,104 shares during the period. Hedge funds and other institutional investors own 9.03% of the company’s stock.

About UP Fintech

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.