Citigroup Reaffirms Sell Rating for UP Fintech (NASDAQ:TIGR)

Citigroup restated their sell rating on shares of UP Fintech (NASDAQ:TIGR) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Citigroup currently has a $5.50 target price on the stock, up from their previous target price of $5.00.

UP Fintech Trading Up 1.5 %

Shares of TIGR opened at $6.14 on Tuesday. UP Fintech has a 1-year low of $3.10 and a 1-year high of $14.48. The company has a 50-day moving average of $5.34 and a 200 day moving average of $4.50. The firm has a market capitalization of $963.30 million, a price-to-earnings ratio of 36.12 and a beta of 0.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.15 and a quick ratio of 1.15.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings results on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). UP Fintech had a net margin of 8.59% and a return on equity of 5.35%. The business had revenue of $87.44 million during the quarter.

Institutional Trading of UP Fintech

Several large investors have recently made changes to their positions in TIGR. Marshall Wace LLP lifted its stake in shares of UP Fintech by 52.8% in the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock valued at $4,671,000 after purchasing an additional 384,213 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of UP Fintech by 6,367.8% in the first quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock valued at $1,560,000 after purchasing an additional 446,572 shares during the period. Sparta 24 Ltd. grew its holdings in shares of UP Fintech by 113.7% in the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after purchasing an additional 1,675,296 shares during the period. Virtu Financial LLC boosted its stake in UP Fintech by 61.3% during the first quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock worth $93,000 after buying an additional 10,329 shares during the period. Finally, GAMMA Investing LLC boosted its stake in UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after buying an additional 2,104 shares during the period. 9.03% of the stock is 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.