UP Fintech (NASDAQ:TIGR) Shares Down 5.8% - Time to Sell?

Key Points

• UP Fintech shares declined by 5.8% to $11.25, with trading volume down by 33% from average daily levels.
• Analysts have shown optimism for UP Fintech, with recent upgrades from Wall Street Zen and Citigroup increasing the stock's price target to $14.00.
• The company has a market cap of $2.07 billion and institutional investors now own 9.03% of its stock, indicating growing interest from large stakeholders.

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s stock price dropped 5.8% during trading on Wednesday . The stock traded as low as $11.21 and last traded at $11.25. Approximately 4,147,179 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 6,165,894 shares. The stock had previously closed at $11.94.

Analyst Upgrades and Downgrades

TIGR has been the subject of several research reports. Citigroup raised shares of UP Fintech from a "neutral" rating to a "buy" rating and increased their price objective for the company from $9.50 to $14.00 in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of UP Fintech from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $10.33.

UP Fintech Trading Down 0.9%

The company's 50-day simple moving average is $10.85 and its 200-day simple moving average is $9.18. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.73 and a beta of 0.64.

Institutional Investors Weigh In On UP Fintech

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of UP Fintech during the second quarter worth $33,000. Deutsche Bank AG acquired a new stake in shares of UP Fintech during the fourth quarter worth $38,000. Caitong International Asset Management Co. Ltd grew its holdings in UP Fintech by 205.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 5,094 shares of the company's stock worth $49,000 after purchasing an additional 3,427 shares during the period. First Horizon Advisors Inc. acquired a new stake in UP Fintech in the second quarter worth $52,000. Finally, SBI Securities Co. Ltd. grew its holdings in UP Fintech by 22.7% in the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company's stock worth $62,000 after purchasing an additional 1,179 shares during the period. 9.03% of the stock is currently owned by institutional investors and hedge funds.

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 services.