UP Fintech (NASDAQ:TIGR) Shares Gap Down – Time to Sell?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) gapped down before the market opened on Tuesday . The stock had previously closed at $7.77, but opened at $6.96. UP Fintech shares last traded at $6.85, with a volume of 4,717,506 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on TIGR. China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a research report on Thursday, October 24th. Citigroup reiterated a “sell” rating and issued a $5.50 price target (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd.

UP Fintech Stock Down 13.6 %

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 34.25 and a beta of 0.88. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $6.80 and a 200-day moving average price of $5.05.

Institutional Trading of UP Fintech

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised 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 acquiring an additional 2,104 shares during the period. Blue Trust Inc. boosted its holdings in shares of UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after acquiring an additional 9,748 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of UP Fintech by 38.5% in the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after acquiring an additional 4,377 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of UP Fintech in the second quarter valued at approximately $78,000. Finally, Headlands Technologies LLC lifted its stake in UP Fintech by 100.6% during the second 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 last quarter. 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.