UP Fintech (NASDAQ:TIGR) Stock Price Down 5.7% – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR) shares were down 5.7% on Tuesday . The company traded as low as $9.67 and last traded at $9.7350. Approximately 1,985,850 shares changed hands during trading, a decline of 64% from the average daily volume of 5,521,291 shares. The stock had previously closed at $10.32.

Wall Street Analysts Forecast Growth

TIGR has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a “sell” rating and set a $4.73 target price on shares of UP Fintech in a research report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of UP Fintech in a research note on Wednesday, October 8th. Wall Street Zen downgraded UP Fintech from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Citigroup upped their target price on UP Fintech to $17.50 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Jefferies Financial Group started coverage on UP Fintech in a research report on Monday, September 29th. They set a “buy” rating and a $12.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, UP Fintech has an average rating of “Moderate Buy” and a consensus price target of $11.83.

UP Fintech Price Performance

The company has a market cap of $1.74 billion, a PE ratio of 11.38 and a beta of 0.29. The business has a fifty day simple moving average of $9.36 and a two-hundred day simple moving average of $10.12.

UP Fintech (NASDAQ:TIGR) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. The business had revenue of $175.16 million for the quarter, compared to the consensus estimate of $132.76 million. UP Fintech had a return on equity of 21.09% and a net margin of 27.42%.During the same period last year, the business posted $0.11 EPS.

Institutional Trading of UP Fintech

A number of institutional investors have recently modified their holdings of the company. Sparta 24 Ltd. grew its position in shares of UP Fintech by 71.2% in the 2nd quarter. Sparta 24 Ltd. now owns 6,260,946 shares of the company’s stock worth $60,418,000 after buying an additional 2,603,842 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in UP Fintech in the second quarter worth $24,456,000. Arrowstreet Capital Limited Partnership increased its position in shares of UP Fintech by 282.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company’s stock worth $31,335,000 after purchasing an additional 2,397,261 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of UP Fintech by 450.4% during the 3rd quarter. National Bank of Canada FI now owns 1,976,720 shares of the company’s stock valued at $21,092,000 after purchasing an additional 1,617,600 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of UP Fintech in the 2nd quarter worth $12,993,000. 9.03% of the stock is currently owned by institutional investors.

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.