UP Fintech (NASDAQ:TIGR) Shares Down 5.5% - Should You Sell?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) were down 5.5% during mid-day trading on Tuesday . The company traded as low as $8.25 and last traded at $8.39. Approximately 4,462,911 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 6,054,454 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research report on Thursday, January 2nd. They issued a "buy" rating and a $9.40 price target on the stock.

UP Fintech Trading Down 1.2 %

The firm has a market cap of $1.51 billion, a PE ratio of 41.00 and a beta of 0.86. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $7.10 and a 200 day moving average price of $6.08.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its stake in UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company's stock worth $36,173,000 after buying an additional 4,654,351 shares during the last quarter. Two Sigma Investments LP grew its stake in UP Fintech by 808.5% during the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company's stock worth $11,743,000 after buying an additional 1,617,702 shares during the last quarter. Millennium Management LLC grew its stake in UP Fintech by 2,631.2% during the 4th quarter. Millennium Management LLC now owns 1,620,968 shares of the company's stock worth $10,471,000 after buying an additional 1,561,617 shares during the last quarter. Contrarius Group Holdings Ltd purchased a new position in UP Fintech during the 4th quarter worth approximately $8,105,000. Finally, Two Sigma Advisers LP grew its stake in UP Fintech by 841.6% during the 4th quarter. Two Sigma Advisers LP now owns 888,900 shares of the company's stock worth $5,742,000 after buying an additional 794,500 shares during the last quarter. Hedge funds and other 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.