UP Fintech (NASDAQ:TIGR) Stock Price Down 4.8% - Here's Why

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s stock price traded down 4.8% on Friday . The stock traded as low as $9.54 and last traded at $9.47. 1,292,061 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 6,108,271 shares. The stock had previously closed at $9.94.

Wall Street Analyst Weigh In

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

UP Fintech Trading Down 5.2%

The company's 50-day moving average is $8.56 and its 200 day moving average is $7.77. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.91 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 earnings results on Friday, May 30th. The company reported $0.20 EPS for the quarter. The firm had revenue of $122.61 million for the quarter. UP Fintech had a return on equity of 13.19% and a net margin of 18.11%.

Institutional Inflows and Outflows

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.