UP Fintech (NASDAQ:TIGR) Shares Gap Down - Here's What Happened

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $9.10, but opened at $8.86. UP Fintech shares last traded at $8.67, with a volume of 1,852,021 shares.

Wall Street Analyst Weigh In

TIGR has been the subject of a number of research reports. Bank of America began coverage on UP Fintech in a research report on Monday, March 17th. They set a "buy" rating for the company. Citigroup raised shares of UP Fintech from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $5.80 to $9.50 in a research report on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They issued a "buy" rating and a $9.40 target price for the company.

UP Fintech Stock Up 2.3 %

The stock has a market cap of $1.62 billion, a P/E ratio of 43.89 and a beta of 0.87. 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 firm's fifty day moving average is $7.75 and its 200 day moving average is $6.89.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.06. The business had revenue of $124.10 million for the quarter, compared to analysts' expectations of $73.60 million. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of UP Fintech by 51.5% during the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock worth $59,000 after buying an additional 3,105 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of UP Fintech by 527.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock worth $30,000 after buying an additional 3,901 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of UP Fintech by 5.2% during the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company's stock worth $437,000 after acquiring an additional 4,082 shares during the period. SBI Securities Co. Ltd. acquired a new stake in UP Fintech during the 4th quarter worth approximately $34,000. Finally, Deutsche Bank AG bought a new stake in UP Fintech in the 4th quarter valued at about $38,000. 9.03% of the stock is currently owned by institutional investors.

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.