UP Fintech (NASDAQ:TIGR) Stock Price Down 7.7% – Should You Sell?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price traded down 7.7% during mid-day trading on Friday . The company traded as low as $7.74 and last traded at $7.78. 2,428,778 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 7,122,158 shares. The stock had previously closed at $8.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and lifted their price target for the company from $5.80 to $9.50 in a research note on Wednesday, March 19th. Wall Street Zen raised shares of UP Fintech from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Bank of America assumed coverage on shares of UP Fintech in a research note on Monday, March 17th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, UP Fintech presently has an average rating of “Moderate Buy” and a consensus price target of $8.83.

UP Fintech Stock 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 50 day simple moving average is $8.19 and its 200-day simple moving average is $7.43. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 39.45 and a beta of 0.70.

UP Fintech (NASDAQ:TIGR) last announced its earnings results on Friday, May 30th. The company reported $0.20 earnings per share (EPS) for the quarter. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The company had revenue of $122.61 million for the quarter.

Institutional Investors Weigh In On UP Fintech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in UP Fintech by 527.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after purchasing an additional 3,901 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in UP Fintech during the 4th quarter worth $34,000. Deutsche Bank AG purchased a new position in shares of UP Fintech during the 4th quarter worth $38,000. Tairen Capital Ltd purchased a new position in shares of UP Fintech during the 4th quarter worth $68,000. Finally, Bingham Private Wealth LLC purchased a new position in shares of UP Fintech during the 1st quarter worth $90,000. Institutional investors and hedge funds 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.