UP Fintech (NASDAQ:TIGR) Shares Gap Down – Should You Sell?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $8.32, but opened at $7.90. UP Fintech shares last traded at $8.30, with a volume of 2,804,535 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup restated a “sell” rating and set a $5.50 target price (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price on the stock.

UP Fintech Stock Up 0.8 %

The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 42.03 and a beta of 0.86. The business has a fifty day moving average of $6.88 and a 200 day moving average of $5.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TIGR. GAMMA Investing LLC lifted its holdings in UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after acquiring an additional 2,104 shares during the last quarter. Blue Trust Inc. lifted its stake in UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares in the last quarter. Sparta 24 Ltd. lifted its stake in UP Fintech by 113.7% during the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after purchasing an additional 1,675,296 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after purchasing an additional 4,377 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in UP Fintech by 10.1% during the third quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock worth $3,610,000 after purchasing an additional 62,145 shares in the last quarter. 9.03% of the stock is currently 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.