UP Fintech (NASDAQ:TIGR) Stock Price Down 2.9%

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price was down 2.9% during mid-day trading on Friday . The company traded as low as $3.28 and last traded at $3.29. Approximately 631,430 shares traded hands during trading, a decline of 38% from the average daily volume of 1,019,198 shares. The stock had previously closed at $3.39.

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their target price on shares of UP Fintech from $8.01 to $6.22 and set a “buy” rating for the company in a research note on Thursday, March 21st.

UP Fintech Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50 day simple moving average is $3.87 and its 200-day simple moving average is $4.24. The stock has a market capitalization of $513.60 million, a price-to-earnings ratio of 16.45 and a beta of 1.21.

UP Fintech (NASDAQ:TIGR) last posted its earnings results on Wednesday, March 20th. The company reported ($0.01) earnings per share (EPS) for the quarter. UP Fintech had a net margin of 11.95% and a return on equity of 6.88%. The firm had revenue of $69.98 million for the quarter.

Institutional Trading of UP Fintech

A number of hedge funds and other institutional investors have recently made changes to their positions in TIGR. GAMMA Investing LLC raised its position in shares of UP Fintech by 308.9% during the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock worth $26,000 after buying an additional 5,804 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of UP Fintech during the 2nd quarter worth about $32,000. UBS Group AG raised its position in shares of UP Fintech by 240.5% during the 3rd quarter. UBS Group AG now owns 6,840 shares of the company’s stock worth $35,000 after buying an additional 4,831 shares in the last quarter. Rhumbline Advisers raised its position in shares of UP Fintech by 215.4% during the 3rd quarter. Rhumbline Advisers now owns 7,412 shares of the company’s stock worth $38,000 after buying an additional 5,062 shares in the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of UP Fintech during the 3rd quarter worth about $40,000. 9.03% of the stock is currently owned by 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; and account management services.