UP Fintech (NASDAQ:TIGR) Sets New 52-Week Low - Here's What Happened

Key Points

• UP Fintech shares fell to a new 52-week low of $4.00 during Wednesday trading, below the prior close of $4.10. The stock remains below its 50-day and 200-day moving averages of $4.72 and $5.18, respectively.
• Analyst sentiment is mixed but leans toward a consensus “Hold” rating, with four Buy, two Hold, and one Sell rating. The average price target is $8.16, while Jefferies maintains a Buy rating with a $7.70 target.
• The company’s latest quarter exceeded expectations, reporting $0.23 in EPS versus $0.21 expected and revenue of $182.27 million compared with a $153.93 million estimate. Institutional investors and hedge funds own 9.03% of the stock.

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $4.00 and last traded at $4.0350, with a volume of 871,982 shares changing hands. The stock had previously closed at $4.10.

Wall Street Analysts Forecast Growth

TIGR has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of UP Fintech to a "hold" rating in a report on Monday, September 14th. Wall Street Zen upgraded shares of UP Fintech from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UP Fintech in a research report on Monday, August 31st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $7.70 price objective on shares of UP Fintech in a research report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $8.16.

UP Fintech Stock Up 0.4%

The business has a fifty day moving average of $4.72 and a 200 day moving average of $5.18. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. The firm has a market cap of $780.61 million, a P/E ratio of 6.98 and a beta of 0.42.

UP Fintech (NASDAQ:TIGR - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The business had revenue of $182.27 million for the quarter, compared to the consensus estimate of $153.93 million. UP Fintech had a return on equity of 13.11% and a net margin of 16.22%. On average, equities research analysts predict that UP Fintech Holding Limited will post 0.42 EPS for the current year.

Hedge Funds Weigh In On UP Fintech

A number of large investors have recently modified their holdings of TIGR. IPG Investment Advisors LLC grew its stake in UP Fintech by 66.4% in the 2nd quarter. IPG Investment Advisors LLC now owns 26,370 shares of the company's stock valued at $116,000 after buying an additional 10,520 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of UP Fintech in the second quarter valued at about $136,000. Engineers Gate Manager LP bought a new position in UP Fintech during the second quarter worth about $266,000. AXQ Capital LP bought a new stake in UP Fintech in the 2nd quarter valued at about $72,000. Finally, Headlands Technologies LLC bought a new position in shares of UP Fintech during the second quarter worth approximately $728,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

About UP Fintech

UP Fintech Holding Limited, operating under the Tiger Brokers brand, is a technology-driven online brokerage company that provides trading and investment services to individual and institutional investors. The company offers access to securities markets through digital platforms, including mobile and online applications designed to support account management, market research, and trade execution.

Tiger Brokers' services include trading in stocks and exchange-traded funds, as well as options and other investment products in selected markets.

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