UP Fintech (NASDAQ:TIGR) Shares Gap Down – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $7.65, but opened at $7.45. UP Fintech shares last traded at $7.93, with a volume of 2,078,191 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TIGR. Citigroup restated a “sell” rating and issued a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price for the company in a research note on Thursday, October 24th.

UP Fintech Price Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day simple moving average is $6.52 and its 200 day simple moving average is $5.18. The firm has a market cap of $1.43 billion, a P/E ratio of 38.70 and a beta of 0.88.

Hedge Funds Weigh In On UP Fintech

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after purchasing an additional 2,104 shares in the last quarter. Geode Capital Management LLC increased its stake in UP Fintech by 5.2% during the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock worth $437,000 after purchasing an additional 4,082 shares during the period. Asset Management One Co. Ltd. lifted its holdings in UP Fintech by 38.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after buying an additional 4,377 shares in the last quarter. Blue Trust Inc. increased its holdings in UP Fintech by 198.6% during the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares during the period. Finally, Headlands Technologies LLC lifted its stake in UP Fintech by 100.6% in the second quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock worth $84,000 after acquiring an additional 10,006 shares during the last quarter. 9.03% of the stock is 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.