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

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped down before the market opened 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 traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TIGR shares. Citigroup reissued a “sell” rating and set a $5.50 target price (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 objective for the company in a report on Thursday, October 24th.

UP Fintech Price Performance

The stock’s 50 day moving average is $5.92 and its two-hundred day moving average is $4.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $1.15 billion, a PE ratio of 36.59 and a beta of 0.91.

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

Institutional Investors Weigh In On UP Fintech

Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its stake in UP Fintech by 10.1% in the third 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. boosted its holdings in shares of UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after buying an additional 4,377 shares in the last quarter. Sparta 24 Ltd. grew its position 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 valued at $16,811,000 after buying an additional 1,675,296 shares during the last quarter. Blue Trust Inc. raised its stake in UP Fintech by 198.6% during the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after acquiring an additional 9,748 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after acquiring an additional 2,104 shares in the last quarter. 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.