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

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $8.30, but opened at $7.42. UP Fintech shares last traded at $7.08, with a volume of 2,228,279 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on TIGR. Citigroup raised shares of UP Fintech from a "sell" rating to a "neutral" rating and increased their price target for the company from $5.80 to $9.50 in a research report on Wednesday, March 19th. Bank of America started coverage on shares of UP Fintech in a research report on Monday, March 17th. They set a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a report on Thursday, January 2nd. They issued a "buy" rating and a $9.40 price target on the stock.

UP Fintech Trading Up 3.6 %

The firm has a market cap of $1.29 billion, a PE ratio of 35.00 and a beta of 0.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The stock's fifty day simple moving average is $7.87 and its 200-day simple moving average is $7.06.

UP Fintech (NASDAQ:TIGR - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.06. The company had revenue of $124.10 million during 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%.

Remove Ads

Hedge Funds Weigh In On UP Fintech

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