UP Fintech (NASDAQ:TIGR) Stock Price Down 5% – Should You Sell?

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

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America began coverage on UP Fintech in a report on Monday. They set a “buy” rating on the stock. Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and raised their price target for the company from $5.80 to $9.50 in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price for the company.

UP Fintech Price Performance

The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 44.40 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average price is $7.33 and its 200-day moving average price is $6.57.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%. The firm had revenue of $124.10 million for the quarter, compared to the consensus estimate of $73.60 million.

Hedge Funds Weigh In On UP Fintech

Several hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in shares of UP Fintech in the third quarter valued at approximately $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in UP Fintech by 66.2% in 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 valued at $1,090,000 after buying an additional 81,300 shares during the period. Virtu Financial LLC purchased a new position in UP Fintech during the 3rd quarter worth $539,000. Nkcfo LLC purchased a new stake in shares of UP Fintech in the fourth quarter valued at about $323,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of UP Fintech during the fourth quarter worth about $742,000. Hedge funds and other institutional investors 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.