UP Fintech (NASDAQ:TIGR) Reaches New 12-Month Low – Time to Sell?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) reached a new 52-week low during trading on Wednesday. The company traded as low as $4.00 and last traded at $4.0350, with a volume of 871,982 shares. The stock had previously closed at $4.10.

Analyst Ratings Changes

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

UP Fintech Stock Up 0.4%

The firm has a market cap of $780.61 million, a PE ratio of 6.98 and a beta of 0.42. The stock has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $5.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 1.10.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. UP Fintech had a return on equity of 13.11% and a net margin of 16.22%. The firm had revenue of $182.27 million for the quarter, compared to the consensus estimate of $153.93 million. Sell-side analysts predict that UP Fintech Holding Limited will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TIGR. Sparta 24 Ltd. raised its position in UP Fintech by 9.1% during the first quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock valued at $36,592,000 after acquiring an additional 482,607 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of UP Fintech by 129.8% in the 1st 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 last quarter. Headlands Technologies LLC acquired a new stake in shares of UP Fintech during the second quarter valued at about $728,000. Bank of New York Mellon Corp boosted its position in shares of UP Fintech by 7.5% during the 1st quarter. Bank of New York Mellon Corp now owns 79,336 shares of the company’s stock worth $500,000 after purchasing an additional 5,564 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in UP Fintech in the second quarter valued at approximately $266,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.

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.