UP Fintech (NASDAQ:TIGR) Stock Price Down 5% - Here's What Happened

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price dropped 5% during trading on Thursday . The stock traded as low as $8.96 and last traded at $9.18. Approximately 2,119,327 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 6,334,942 shares. The stock had previously closed at $9.66.

Wall Street Analyst Weigh In

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

UP Fintech Price Performance

The stock has a market cap of $1.63 billion, a P/E ratio of 44.05 and a beta of 0.87. The business has a 50-day simple moving average of $7.45 and a 200 day simple moving average of $6.66. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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, 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 net margin of 9.14% and a return on equity of 6.09%.

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Institutional Investors Weigh In On UP Fintech

A number of institutional investors and hedge funds have recently made changes to their positions in TIGR. Tower Research Capital LLC TRC raised its holdings in shares of UP Fintech by 527.2% in 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 last quarter. SBI Securities Co. Ltd. bought a new stake in UP Fintech in the 4th quarter worth about $34,000. Deutsche Bank AG purchased a new stake in UP Fintech in the 4th quarter valued at about $38,000. GAMMA Investing LLC lifted its position 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 in the last quarter. Finally, Tairen Capital Ltd purchased a new position in shares of UP Fintech in the 4th quarter worth approximately $68,000. 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.