UP Fintech (NASDAQ:TIGR) Trading Down 2.2% – Here’s What Happened

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) dropped 2.2% during mid-day trading on Thursday . The company traded as low as $7.18 and last traded at $7.21. Approximately 984,668 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 5,041,139 shares. The stock had previously closed at $7.37.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup reiterated a “sell” rating and issued a $5.50 target price (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective for the company in a research report on Thursday, October 24th.

UP Fintech Price Performance

The company’s 50-day moving average price is $6.45 and its two-hundred day moving average price is $5.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $1.27 billion, a P/E ratio of 34.45 and a beta of 0.88.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sparta 24 Ltd. bought a new stake in shares of UP Fintech during the second quarter worth approximately $6,186,000. Headlands Technologies LLC boosted its stake in UP Fintech by 100.6% in the 2nd quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock valued at $84,000 after purchasing an additional 10,006 shares during the period. Renaissance Technologies LLC grew its holdings in UP Fintech by 162.7% in the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after buying an additional 57,257 shares in the last quarter. Marshall Wace LLP increased its position in UP Fintech by 52.8% during the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after buying an additional 384,213 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of UP Fintech during the second quarter worth $129,000. 9.03% of the stock is owned by institutional investors.

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.