UP Fintech (NASDAQ:TIGR) Shares Down 5.5% – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR) was down 5.5% on Tuesday . The stock traded as low as $8.25 and last traded at $8.39. Approximately 4,462,911 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 6,054,454 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

TIGR has been the subject of a number of research analyst reports. Citigroup reissued a “sell” rating and set a $5.50 target price (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target on the stock. Finally, China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective for the company in a research report on Thursday, October 24th.

UP Fintech Trading Down 3.5 %

The business’s 50-day simple moving average is $7.04 and its two-hundred day simple moving average is $6.02. 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 company has a market capitalization of $1.58 billion, a PE ratio of 42.80 and a beta of 0.86.

Hedge Funds Weigh In On UP Fintech

Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its position in shares of UP Fintech by 492.4% in the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock worth $36,173,000 after acquiring an additional 4,654,351 shares in the last quarter. Sparta 24 Ltd. increased its stake in UP Fintech by 113.7% during the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after purchasing an additional 1,675,296 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after purchasing an additional 1,617,702 shares during the period. Millennium Management LLC lifted its position in shares of UP Fintech by 2,631.2% in the 4th quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock worth $10,471,000 after buying an additional 1,561,617 shares during the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new position in shares of UP Fintech in the 4th quarter valued at about $8,105,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

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.