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

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TIGR shares. Citigroup reiterated a "sell" rating and issued a $5.50 target price (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. China Renaissance upgraded UP Fintech from a "hold" rating to a "buy" rating and set a $7.58 target price on the stock in a report on Thursday, October 24th.

UP Fintech Trading Down 14.2 %

The business has a fifty day moving average of $5.87 and a 200-day moving average of $4.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $1.15 billion, a P/E ratio of 37.36 and a beta of 0.91.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly earnings results on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). The company had revenue of $87.44 million during the quarter. UP Fintech had a net margin of 8.59% and a return on equity of 5.35%.

Institutional Investors Weigh In On UP Fintech

A number of institutional investors and hedge funds have recently bought and sold shares of TIGR. Sparta 24 Ltd. raised its position in 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. Russell Investments Group Ltd. increased its position in shares of UP Fintech by 6,367.8% during the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company's stock valued at $1,560,000 after purchasing an additional 446,572 shares during the last quarter. Marshall Wace LLP increased its position in shares of UP Fintech by 52.8% during the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company's stock valued at $4,671,000 after purchasing an additional 384,213 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of UP Fintech by 10.1% during the 3rd 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. Finally, Renaissance Technologies LLC increased its position in shares of UP Fintech by 162.7% during the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company's stock valued at $388,000 after purchasing an additional 57,257 shares during the last quarter. 9.03% of the stock is owned by hedge funds and other 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.