UP Fintech (NASDAQ:TIGR) Shares Gap Down – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $7.31, but opened at $6.93. UP Fintech shares last traded at $6.94, with a volume of 5,091,208 shares.

Analyst Ratings Changes

Separately, Citigroup dropped their price objective on UP Fintech from $6.49 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd.

UP Fintech Trading Up 1.3 %

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 42.00 and a beta of 0.93. The business has a 50-day moving average of $4.97 and a two-hundred day moving average of $4.36. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32.

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

Institutional Investors Weigh In On UP Fintech

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 buying an additional 2,104 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in UP Fintech during the second quarter valued at approximately $129,000. Marshall Wace LLP boosted its holdings in UP Fintech by 52.8% during the second 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in UP Fintech by 162.7% during the second 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 in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in UP Fintech by 100.6% during the second quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock valued at $84,000 after purchasing an additional 10,006 shares in the last quarter. 9.03% of the stock is owned by institutional investors and hedge funds.

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.