UP Fintech (NASDAQ:TIGR) Downgraded by Wall Street Zen to Sell

UP Fintech (NASDAQ:TIGR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts have also commented on TIGR. Bank of America restated a “buy” rating on shares of UP Fintech in a research report on Monday. Citigroup dropped their target price on shares of UP Fintech to $7.10 and set a “buy” rating for the company in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UP Fintech in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.23.

UP Fintech Price Performance

NASDAQ:TIGR opened at $4.48 on Friday. The firm has a market cap of $849.86 million, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.32 and a beta of 0.45. UP Fintech has a 12 month low of $4.00 and a 12 month high of $13.55. The company has a quick ratio of 1.12, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $6.17 and its two-hundred day moving average price is $7.70.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The firm had revenue of $156.54 million for the quarter, compared to analyst estimates of $142.01 million. UP Fintech had a net margin of 17.64% and a return on equity of 13.90%.

Hedge Funds Weigh In On UP Fintech

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of UP Fintech by 129.8% in the first quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock worth $11,227,000 after acquiring an additional 1,006,566 shares during the last quarter. ABN Amro Investment Solutions raised its stake in shares of UP Fintech by 52.0% during the first quarter. ABN Amro Investment Solutions now owns 22,792 shares of the company’s stock worth $144,000 after buying an additional 7,800 shares during the last quarter. Sparta 24 Ltd. raised its stake in shares of UP Fintech by 9.1% during the first quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock worth $36,592,000 after buying an additional 482,607 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of UP Fintech by 7.5% during the first quarter. Bank of New York Mellon Corp now owns 79,336 shares of the company’s stock worth $500,000 after buying an additional 5,564 shares during the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of UP Fintech during the first quarter worth approximately $74,000. 9.03% of the stock is owned by institutional investors.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.