UP Fintech (NASDAQ:TIGR) Stock Price Down 4.3% – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price dropped 4.3% on Wednesday . The stock traded as low as $7.38 and last traded at $7.41. Approximately 2,666,546 shares traded hands during trading, a decline of 47% from the average daily volume of 5,076,920 shares. The stock had previously closed at $7.74.

Analyst Upgrades and Downgrades

TIGR has been the subject of several analyst reports. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a report on Thursday, October 24th. Citigroup reaffirmed a “sell” rating and issued a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd.

UP Fintech Trading Down 8.7 %

The firm has a market cap of $1.31 billion, a P/E ratio of 35.35 and a beta of 0.88. 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 has a 50 day simple moving average of $6.52 and a 200-day simple moving average of $5.18.

Hedge Funds Weigh In On UP Fintech

Institutional investors and hedge funds have recently modified their holdings of the stock. Sparta 24 Ltd. boosted its holdings in UP Fintech by 113.7% during the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after acquiring an additional 1,675,296 shares during the period. Marshall Wace LLP boosted its holdings in UP Fintech by 52.8% during the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock valued at $4,671,000 after acquiring an additional 384,213 shares during the period. Virtu Financial LLC purchased a new position in UP Fintech during the 3rd quarter valued at $539,000. Quadrature Capital Ltd purchased a new position in UP Fintech during the 3rd quarter valued at $516,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 valued at $1,090,000 after acquiring an additional 81,300 shares during the period. Hedge funds and other institutional investors 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.