UP Fintech (NASDAQ:TIGR) Shares Gap Down – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR) shares gapped down before the market opened on Thursday . The stock had previously closed at $8.32, but opened at $7.90. UP Fintech shares last traded at $8.30, with a volume of 2,804,535 shares traded.

Analysts Set New Price Targets

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

UP Fintech Stock Performance

The firm has a market capitalization of $1.64 billion, a PE ratio of 44.35 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day moving average price of $6.98 and a 200 day moving average price of $5.92.

Institutional Investors Weigh In On UP Fintech

Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in UP Fintech by 527.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after acquiring an additional 3,901 shares in the last quarter. GAMMA Investing LLC lifted its stake in UP Fintech by 53.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after acquiring an additional 2,104 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in UP Fintech in the 4th quarter worth about $34,000. Blue Trust Inc. lifted its stake in UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after acquiring an additional 9,748 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after acquiring an additional 4,377 shares in the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.

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.