UP Fintech (NASDAQ:TIGR) Stock Price Down 10.9%

   2022-03-12 10:03


UP Fintech Holding Limited (NASDAQ:TIGR – Get Rating) shares dropped 10.9% during mid-day trading on Thursday . The stock traded as low as $3.51 and last traded at $3.52. Approximately 66,910 shares changed hands during trading, a decline of 98% from the average daily volume of 3,390,707 shares. The stock had previously closed at $3.95.



TIGR has been the topic of several research reports. Daiwa Capital Markets assumed coverage on UP Fintech in a research note on Tuesday, January 18th. They set a “buy” rating and a $6.60 price target on the stock. Citigroup decreased their price objective on UP Fintech from $18.22 to $7.58 and set a “buy” rating on the stock in a report on Wednesday, December 1st.


The firm has a market capitalization of $510.02 million, a price-to-earnings ratio of 17.56 and a beta of 1.45. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $4.32 and a 200 day moving average price of $7.24.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of UP Fintech by 2.5% in the 3rd quarter. BlackRock Inc. now owns 3,285,535 shares of the company’s stock worth $34,792,000 after acquiring an additional 79,895 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of UP Fintech by 41.4% in the 4th quarter. Bank of America Corp DE now owns 2,243,059 shares of the company’s stock worth $11,014,000 after acquiring an additional 656,305 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of UP Fintech by 38.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,800,512 shares of the company’s stock worth $8,841,000 after acquiring an additional 498,839 shares in the last quarter. Morgan Stanley boosted its holdings in shares of UP Fintech by 588.0% in the 2nd quarter. Morgan Stanley now owns 1,293,774 shares of the company’s stock worth $37,493,000 after acquiring an additional 1,105,716 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of UP Fintech by 1,407.7% in the 2nd quarter. State Street Corp now owns 1,143,938 shares of the company’s stock worth $33,151,000 after acquiring an additional 1,068,067 shares in the last quarter. 16.44% of the stock is currently owned by institutional investors and hedge funds.

About UP Fintech (NASDAQ:TIGR)

UP Fintech Holding Ltd. is a brokerage firm, which engages in the provision of online brokerage services. The company was founded by Tian Hua Wu in 2014 and is headquartered in Chaoyang District, China.

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