UP Fintech (NASDAQ:TIGR) Shares Gap Down – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) gapped down before the market opened on Friday . The stock had previously closed at $9.10, but opened at $8.86. UP Fintech shares last traded at $8.67, with a volume of 1,852,021 shares.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price on the stock. Bank of America initiated coverage on UP Fintech in a research note on Monday, March 17th. They issued a “buy” rating on the stock. Finally, Citigroup raised UP Fintech from a “sell” rating to a “neutral” rating and raised their target price for the company from $5.80 to $9.50 in a report on Wednesday, March 19th.

UP Fintech Stock Down 4.8 %

The firm’s 50-day simple moving average is $7.68 and its 200-day simple moving average is $6.77. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 43.48 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.

UP Fintech (NASDAQ:TIGR) last released its earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The business had revenue of $124.10 million for the quarter, compared to the consensus estimate of $73.60 million. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TIGR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 in the last quarter. Centiva Capital LP acquired a new position in UP Fintech in the third quarter worth about $209,000. Quadrature Capital Ltd bought a new position in UP Fintech during the third quarter worth about $516,000. State Street Corp boosted its holdings in UP Fintech by 4.8% during the third quarter. State Street Corp now owns 742,452 shares of the company’s stock valued at $3,965,000 after purchasing an additional 34,186 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of UP Fintech in the 3rd quarter valued at approximately $121,000. 9.03% of the stock is owned by 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.