UP Fintech (NASDAQ:TIGR) Shares Down 7.4% – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR) shares fell 7.4% during trading on Thursday. The company traded as low as $4.36 and last traded at $4.2490. Approximately 1,943,065 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 3,245,509 shares. The stock had previously closed at $4.59.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TIGR. Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a research note on Monday, August 31st. Jefferies Financial Group reissued a “buy” rating and set a $7.70 price objective on shares of UP Fintech in a report on Thursday, August 27th. Zacks Research upgraded shares of UP Fintech to a “hold” rating in a research report on Monday, September 14th. Finally, Wall Street Zen upgraded shares of UP Fintech from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.16.

UP Fintech Trading Down 2.6%

The stock has a market capitalization of $789.15 million, a price-to-earnings ratio of 7.05, a PEG ratio of 0.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50-day moving average of $4.85 and a 200-day moving average of $5.38.

Institutional Investors Weigh In On UP Fintech

Large investors have recently modified their holdings of the company. Capital International Investors acquired a new position in shares of UP Fintech in the 4th quarter valued at $47,855,000. Sparta 24 Ltd. grew its position in UP Fintech by 9.1% during the 1st quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock worth $36,592,000 after purchasing an additional 482,607 shares during the last quarter. Renaissance Technologies LLC increased its stake in UP Fintech by 129.8% in the first quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock valued at $11,227,000 after purchasing an additional 1,006,566 shares during the period. Contrarius Group Holdings Ltd acquired a new position in UP Fintech in the fourth quarter valued at $10,243,000. Finally, Prudential PLC boosted its stake in shares of UP Fintech by 44.8% during the fourth quarter. Prudential PLC now owns 477,049 shares of the company’s stock worth $4,561,000 after buying an additional 147,514 shares during the period. 9.03% of the stock is owned by institutional investors and hedge funds.

About UP Fintech

UP Fintech Holding Limited, operating under the Tiger Brokers brand, is a technology-driven online brokerage company that provides trading and investment services to individual and institutional investors. The company offers access to securities markets through digital platforms, including mobile and online applications designed to support account management, market research, and trade execution.

Tiger Brokers’ services include trading in stocks and exchange-traded funds, as well as options and other investment products in selected markets.