UP Fintech (NASDAQ:TIGR) Shares Down 4.6% – What’s Next?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) fell 4.6% on Thursday . The company traded as low as $5.24 and last traded at $5.2090. Approximately 361,418 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,417,427 shares. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

TIGR has been the topic of several research reports. Jefferies Financial Group restated a “buy” rating and issued a $7.70 price target on shares of UP Fintech in a research report on Thursday. Wall Street Zen lowered shares of UP Fintech from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Citigroup decreased their target price on shares of UP Fintech to $7.10 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Finally, Bank of America reaffirmed a “buy” rating on shares of UP Fintech in a report on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.16.

UP Fintech Trading Down 6.7%

The company has a 50-day moving average price of $4.77 and a two-hundred day moving average price of $5.95. The stock has a market cap of $966.52 million, a P/E ratio of 8.49 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In other UP Fintech news, Director Jian Liu sold 9,333 shares of UP Fintech stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $4.60, for a total transaction of $42,931.80. Following the completion of the transaction, the director directly owned 62,665 shares of the company’s stock, valued at $288,259. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 50.90% of the stock is owned by insiders.

Institutional Investors Weigh In On UP Fintech

Several institutional investors have recently made changes to their positions in TIGR. AXQ Capital LP purchased a new position in shares of UP Fintech during the 2nd quarter worth about $72,000. Headlands Technologies LLC bought a new position in UP Fintech during the 2nd quarter valued at about $728,000. Public Employees Retirement System of Ohio purchased a new stake in UP Fintech in the 2nd quarter worth about $76,000. Handelsbanken Fonder AB raised its position in UP Fintech by 35.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock worth $165,000 after purchasing an additional 9,800 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in UP Fintech by 129.8% in the first quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock worth $11,227,000 after purchasing an additional 1,006,566 shares during the last quarter. Institutional investors own 9.03% of the company’s stock.

About UP Fintech

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.