UP Fintech (NASDAQ:TIGR) Shares Gap Down – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) gapped down prior to trading on Friday . The stock had previously closed at $8.30, but opened at $7.42. UP Fintech shares last traded at $7.08, with a volume of 2,228,279 shares traded.

Analysts Set New Price Targets

TIGR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price on the stock. Bank of America initiated coverage on UP Fintech in a report on Monday, March 17th. They issued a “buy” rating for the company. Finally, Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and raised their price target for the company from $5.80 to $9.50 in a report on Wednesday, March 19th.

UP Fintech Stock Down 12.8 %

The company has a market cap of $1.34 billion, a P/E ratio of 36.20 and a beta of 0.65. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $7.87 and a 200 day moving average of $7.00.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.11 by $0.06. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The firm had revenue of $124.10 million during the quarter, compared to analyst estimates of $73.60 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TIGR. GAMMA Investing LLC raised its holdings in UP Fintech by 51.5% in the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock worth $59,000 after purchasing an additional 3,105 shares during the period. Tower Research Capital LLC TRC increased its position in UP Fintech by 527.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after buying an additional 3,901 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of UP Fintech by 5.2% in the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock worth $437,000 after buying an additional 4,082 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of UP Fintech during the 4th quarter valued at about $34,000. Finally, Deutsche Bank AG bought a new position in shares of UP Fintech during the 4th quarter valued at approximately $38,000. 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.