UP Fintech (NASDAQ:TIGR) Stock Price Down 6.7% - Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares were down 6.7% during trading on Wednesday . The company traded as low as $6.01 and last traded at $6.02. Approximately 6,232,538 shares changed hands during trading, an increase of 43% from the average daily volume of 4,349,164 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

Separately, Citigroup reiterated a "sell" rating and issued a $5.50 price target (up from $5.00) on shares of UP Fintech in a report on Tuesday.

UP Fintech Stock Down 6.2 %

The business has a fifty day moving average of $5.24 and a 200-day moving average of $4.47. The stock has a market cap of $1.01 billion, a PE ratio of 25.87 and a beta of 0.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.15 and a quick ratio of 1.15.

UP Fintech (NASDAQ:TIGR - Get Free Report) last posted its quarterly earnings results on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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.

Hedge Funds Weigh In On UP Fintech

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of UP Fintech by 308.9% in the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company's stock valued at $26,000 after acquiring an additional 5,804 shares during the period. Headlands Technologies LLC purchased a new stake in shares of UP Fintech during the first quarter valued at about $34,000. SG Americas Securities LLC bought a new stake in shares of UP Fintech in the 2nd quarter valued at about $78,000. Blue Trust Inc. grew its position in shares of UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company's stock worth $78,000 after buying an additional 9,748 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of UP Fintech by 61.3% during the first quarter. Virtu Financial LLC now owns 27,169 shares of the company's stock worth $93,000 after purchasing an additional 10,329 shares during the last quarter. Institutional investors 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.