UP Fintech (NASDAQ:TIGR) Shares Gap Down - Here's What Happened

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.95, but opened at $9.70. UP Fintech shares last traded at $10.19, with a volume of 2,465,204 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America initiated coverage on UP Fintech in a research report on Monday, March 17th. They set a "buy" rating on the stock. Citigroup raised shares of UP Fintech from a "sell" rating to a "neutral" rating and raised their price objective for the company from $5.80 to $9.50 in a research note on Wednesday, March 19th. Finally, Wall Street Zen raised shares of UP Fintech from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, UP Fintech currently has an average rating of "Moderate Buy" and a consensus price target of $8.83.

UP Fintech Stock Performance

The company has a 50-day moving average of $8.50 and a 200-day moving average of $7.75. The company has a market cap of $1.86 billion, a PE ratio of 22.43, a PEG ratio of 0.74 and a beta of 0.64. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.23.

UP Fintech (NASDAQ:TIGR - Get Free Report) last posted its quarterly earnings data on Friday, May 30th. The company reported $0.20 earnings per share (EPS) for the quarter. UP Fintech had a net margin of 18.11% and a return on equity of 13.19%. The firm had revenue of $122.61 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIGR. GAMMA Investing LLC increased its stake in UP Fintech by 17.4% in the 1st quarter. GAMMA Investing LLC now owns 10,728 shares of the company's stock valued at $92,000 after buying an additional 1,592 shares during the last quarter. Invesco Ltd. grew its holdings in shares of UP Fintech by 2.2% in the first quarter. Invesco Ltd. now owns 112,646 shares of the company's stock valued at $968,000 after acquiring an additional 2,458 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of UP Fintech by 527.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock valued at $30,000 after acquiring an additional 3,901 shares during the last quarter. Townsquare Capital LLC lifted its holdings in UP Fintech by 4.5% during the first quarter. Townsquare Capital LLC now owns 94,480 shares of the company's stock worth $812,000 after acquiring an additional 4,107 shares during the period. Finally, Burns Matteson Capital Management LLC lifted its holdings in UP Fintech by 29.8% during the first quarter. Burns Matteson Capital Management LLC now owns 18,320 shares of the company's stock worth $157,000 after acquiring an additional 4,201 shares during the period. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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