UP Fintech (NASDAQ:TIGR) Shares Down 7.1% – What’s Next?

by · The Cerbat Gem

UP Fintech Holding Limited (NASDAQ:TIGR – Get Free Report)’s share price dropped 7.1% on Tuesday . The company traded as low as $10.60 and last traded at $10.3310. Approximately 4,860,802 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 6,009,166 shares. The stock had previously closed at $11.12.

Analysts Set New Price Targets

Several research analysts recently commented on TIGR shares. The Goldman Sachs Group reiterated a “sell” rating and issued a $4.73 target price on shares of UP Fintech in a report on Friday, December 5th. Wall Street Zen downgraded UP Fintech from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Jefferies Financial Group started coverage on UP Fintech in a research report on Monday, September 29th. They set a “buy” rating and a $12.00 price objective for the company. UBS Group started coverage on UP Fintech in a report on Thursday, October 23rd. They issued a “buy” rating and a $13.10 target price on the stock. Finally, Citigroup lifted their price target on UP Fintech to $17.50 and gave the stock a “buy” rating in a research report on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

View Our Latest Stock Analysis on TIGR

UP Fintech Price Performance

The firm has a market cap of $1.91 billion, a P/E ratio of 12.44 and a beta of 0.29. The company’s 50 day moving average is $9.42 and its two-hundred day moving average is $10.08.

UP Fintech (NASDAQ:TIGR – Get Free Report) last posted its quarterly earnings results on Thursday, December 4th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.21 by $0.08. UP Fintech had a return on equity of 21.09% and a net margin of 27.42%.The firm had revenue of $175.16 million during the quarter, compared to analysts’ expectations of $132.76 million. During the same quarter in the prior year, the firm posted $0.11 EPS.

Institutional Investors Weigh In On UP Fintech

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sparta 24 Ltd. lifted its holdings in shares of UP Fintech by 71.2% during the 2nd quarter. Sparta 24 Ltd. now owns 6,260,946 shares of the company’s stock worth $60,418,000 after acquiring an additional 2,603,842 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in UP Fintech by 66.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company’s stock worth $57,705,000 after purchasing an additional 2,161,023 shares during the period. Jupiter Asset Management Ltd. bought a new position in UP Fintech during the second quarter worth about $24,456,000. Millennium Management LLC boosted its holdings in UP Fintech by 48.0% during the first quarter. Millennium Management LLC now owns 2,398,744 shares of the company’s stock valued at $20,605,000 after purchasing an additional 777,776 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of UP Fintech by 122.6% in the 2nd quarter. Bank of America Corp DE now owns 2,282,337 shares of the company’s stock valued at $22,025,000 after purchasing an additional 1,257,251 shares during the period. Institutional investors own 9.03% of the company’s stock.

UP Fintech Company Profile

(Get Free Report)

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.

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