UP Fintech (NASDAQ:TIGR) Stock Price Down 2.9%

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price dropped 2.9% during trading on Friday . The stock traded as low as $3.28 and last traded at $3.29. Approximately 631,430 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,019,198 shares. The stock had previously closed at $3.39.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price objective on UP Fintech from $8.01 to $6.22 and set a “buy” rating on the stock in a research report on Thursday, March 21st.

UP Fintech Stock Down 2.9 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50-day moving average price of $3.87 and a 200 day moving average price of $4.24. The firm has a market capitalization of $513.60 million, a PE ratio of 16.45 and a beta of 1.21.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Wednesday, March 20th. The company reported ($0.01) earnings per share (EPS) for the quarter. UP Fintech had a return on equity of 6.88% and a net margin of 11.95%. The firm had revenue of $69.98 million during the quarter.

Institutional Investors Weigh In On UP Fintech

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of UP Fintech by 308.9% in the first quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock worth $26,000 after purchasing an additional 5,804 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of UP Fintech in the second quarter worth about $32,000. UBS Group AG increased its stake in UP Fintech by 240.5% during the third quarter. UBS Group AG now owns 6,840 shares of the company’s stock worth $35,000 after acquiring an additional 4,831 shares during the last quarter. Rhumbline Advisers increased its stake in UP Fintech by 215.4% during the third quarter. Rhumbline Advisers now owns 7,412 shares of the company’s stock worth $38,000 after acquiring an additional 5,062 shares during the last quarter. Finally, Castleview Partners LLC bought a new stake in UP Fintech during the third quarter worth approximately $40,000. 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; and account management services.