Citigroup Cuts UP Fintech (NASDAQ:TIGR) Price Target to $5.00

UP Fintech (NASDAQ:TIGR) had its price objective trimmed by Citigroup from $6.49 to $5.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

UP Fintech Trading Down 2.2 %

TIGR stock opened at $3.53 on Tuesday. UP Fintech has a one year low of $3.10 and a one year high of $5.80. The company has a market capitalization of $590.00 million, a PE ratio of 15.35 and a beta of 0.90. The company’s 50 day moving average price is $4.03 and its two-hundred day moving average price is $4.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.18 and a current ratio of 1.18.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). UP Fintech had a return on equity of 5.38% and a net margin of 8.59%. The business had revenue of $87.44 million during the quarter.

Hedge Funds Weigh In On UP Fintech

Several institutional investors and hedge funds have recently bought and sold shares of TIGR. Sparta 24 Ltd. purchased a new stake in shares of UP Fintech during the second quarter valued at approximately $6,186,000. Russell Investments Group Ltd. boosted its position in UP Fintech by 6,367.8% during the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock valued at $1,560,000 after buying an additional 446,572 shares during the period. Marshall Wace LLP grew its holdings in UP Fintech by 52.8% in the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after acquiring an additional 384,213 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of UP Fintech by 162.7% in the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after acquiring an additional 57,257 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of UP Fintech by 19.8% during the first quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock valued at $967,000 after acquiring an additional 46,394 shares during the last quarter. 9.03% of the stock is currently 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.