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 Monday . The stock had previously closed at $7.65, but opened at $7.45. UP Fintech shares last traded at $7.93, with a volume of 2,078,191 shares changing hands.

Analysts Set New Price Targets

TIGR has been the subject of several research reports. Citigroup reissued 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 price target on the stock in a report on Thursday, October 24th.

UP Fintech Trading Down 4.4 %

The firm has a fifty day moving average of $6.64 and a 200-day moving average of $5.13. 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 has a market capitalization of $1.35 billion, a price-to-earnings ratio of 38.25 and a beta of 0.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sparta 24 Ltd. grew its position in UP Fintech by 113.7% in the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after buying an additional 1,675,296 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of UP Fintech by 52.8% in 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. Virtu Financial LLC bought a new position in UP Fintech in the 3rd quarter worth $539,000. Quadrature Capital Ltd bought a new position in UP Fintech in the 3rd quarter worth $516,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of UP Fintech by 66.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after purchasing an additional 81,300 shares during the period. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.