UP Fintech (NASDAQ:TIGR) Shares Down 5.8% - Should You 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) dropped 5.8% during trading on Wednesday . The company traded as low as $11.21 and last traded at $11.25. Approximately 4,147,179 shares traded hands during 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 topic of several analyst reports. Wall Street Zen upgraded UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Citigroup upgraded UP Fintech from a "neutral" rating to a "buy" rating and lifted their target price for the company from $9.50 to $14.00 in a research note on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, UP Fintech has an average rating of "Buy" and a consensus price target of $10.33.

UP Fintech Stock Down 6.2%

The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.80 and a beta of 0.64. The company has a 50-day moving average price of $10.75 and a 200 day moving average price of $9.09.

Institutional Investors Weigh In On UP Fintech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC purchased a new stake in shares of UP Fintech during the first quarter worth $575,000. Point72 Asset Management L.P. acquired a new stake in shares of UP Fintech during the 4th quarter valued at about $796,000. Sparta 24 Ltd. grew its stake in shares of UP Fintech by 48.0% in the 1st quarter. Sparta 24 Ltd. now owns 3,657,104 shares of the company's stock valued at $31,415,000 after buying an additional 1,186,137 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in UP Fintech in the first quarter worth approximately $9,467,000. Finally, Northern Trust Corp raised its position in UP Fintech by 53.8% during the fourth quarter. Northern Trust Corp now owns 180,679 shares of the company's stock valued at $1,167,000 after acquiring an additional 63,232 shares in the last quarter. Hedge funds and other institutional investors own 9.03% of the company's stock.

About UP Fintech

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.

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