UP Fintech (NASDAQ:TIGR) Shares Gap Down – Time to Sell?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) gapped down before the market opened on Wednesday . The stock had previously closed at $9.62, but opened at $8.76. UP Fintech shares last traded at $8.83, with a volume of 14,323,251 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Citigroup decreased their target price on UP Fintech from $6.49 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd.

UP Fintech Stock Performance

The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.38 billion, a P/E ratio of 39.43 and a beta of 0.93. The business’s 50 day simple moving average is $4.49 and its 200 day simple moving average is $4.19.

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

Hedge Funds Weigh In On UP Fintech

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in UP Fintech by 53.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after purchasing an additional 2,104 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of UP Fintech during the first quarter worth $34,000. Virtu Financial LLC grew its stake in UP Fintech by 61.3% during the first quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock valued at $93,000 after acquiring an additional 10,329 shares in the last quarter. SG Americas Securities LLC bought a new stake in UP Fintech in the 2nd quarter valued at $78,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in UP Fintech in the 2nd quarter worth $129,000. 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; and account management services.