UP Fintech (NASDAQ:TIGR) Stock Price Down 4.6% - What's Next?

Key Points

• UP Fintech shares fell 4.6% in mid-day trading to approximately $5.21, with trading volume down 89% from the average session. The stock’s market capitalization was about $966.5 million.
• Analyst sentiment remains broadly positive, with four Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with an $8.16 price target.
• Institutional investors have increased their positions, while insider ownership remains high at 50.9%; however, director Jian Liu recently sold 9,333 shares, reducing his stake by 12.96%.

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price was down 4.6% during mid-day trading on Thursday . The stock traded as low as $5.24 and last traded at $5.2090. Approximately 361,418 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 3,417,427 shares. The stock had previously closed at $5.46.

Wall Street Analyst Weigh In

TIGR has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of UP Fintech from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Bank of America reiterated a "buy" rating on shares of UP Fintech in a research report on Monday, June 1st. Jefferies Financial Group reissued a "buy" rating and issued a $7.70 price objective on shares of UP Fintech in a research note on Thursday. Finally, Citigroup decreased their price objective on shares of UP Fintech to $7.10 and set a "buy" rating on the stock in a research report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.16.

UP Fintech Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a 50-day moving average of $4.77 and a 200-day moving average of $5.95. The stock has a market cap of $966.52 million, a PE ratio of 8.49 and a beta of 0.48.

Insider Transactions at UP Fintech

In other UP Fintech news, Director Jian Liu sold 9,333 shares of the stock in a transaction that occurred 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 sale, the director directly owned 62,665 shares of the company's stock, valued at $288,259. This trade represents a 12.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 50.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UP Fintech

A number of hedge funds and other institutional investors have recently modified their holdings of TIGR. Capital International Investors bought a new stake in shares of UP Fintech in the fourth quarter worth about $47,855,000. Jupiter Asset Management Ltd. boosted its stake in UP Fintech by 157.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company's stock valued at $40,307,000 after buying an additional 2,577,459 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in UP Fintech by 66.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company's stock valued at $57,705,000 after buying an additional 2,161,023 shares in the last quarter. National Bank of Canada FI grew its holdings in 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 buying an additional 1,617,600 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in UP Fintech by 122.6% in the 2nd quarter. Bank of America Corp DE now owns 2,282,337 shares of the company's stock worth $22,025,000 after acquiring an additional 1,257,251 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.

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