UP Fintech (NASDAQ:TIGR) Stock Price Down 5.2% - Here's What Happened

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) dropped 5.2% on Tuesday . The company traded as low as $6.39 and last traded at $6.42. Approximately 2,478,296 shares changed hands during trading, a decline of 30% from the average daily volume of 3,549,045 shares. The stock had previously closed at $6.77.

Analysts Set New Price Targets

Several research analysts have recently commented on TIGR shares. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a report on Thursday, January 2nd. They issued a "buy" rating and a $9.40 target price on the stock. Citigroup reaffirmed a "sell" rating and set a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. Finally, China Renaissance upgraded shares of UP Fintech from a "hold" rating to a "buy" rating and set a $7.58 target price for the company in a research report on Thursday, October 24th.

UP Fintech Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The stock's 50-day moving average is $6.40 and its 200 day moving average is $5.55. The firm has a market cap of $1.20 billion, a P/E ratio of 32.53 and a beta of 0.86.

Institutional Investors Weigh In On UP Fintech

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company's stock worth $32,000 after acquiring an additional 2,104 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 4,082 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company's stock worth $84,000 after purchasing an additional 4,377 shares during the period. Blue Trust Inc. increased its holdings in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company's stock worth $78,000 after purchasing an additional 9,748 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in shares of UP Fintech during the fourth quarter worth approximately $119,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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