TLDR:
UP Fintech (NASDAQ:TIGR) shares dropped by 2.5% following an analyst downgrade by Citigroup. The stock traded as low as $3.94 and closed at $3.96. Institutional investors like Walleye Capital LLC and Acadian Asset Management LLC have recently added to their stakes in TIGR. The stock has a market capitalization of $594.78 million and a P/E ratio of 17.41.
Full Article:
UP Fintech Holding Limited (NASDAQ:TIGR) saw a 2.5% drop in its shares after Citigroup lowered their price target on the stock from $8.01 to $6.22. The stock traded as low as $3.94 and closed at $3.96, with a decline in trading volume.
The Goldman Sachs Group also adjusted their target price on UP Fintech from $2.84 to $3.17 and rated the stock as “sell.” Institutional investors like Walleye Capital LLC and Acadian Asset Management LLC have recently increased their stakes in UP Fintech.
UP Fintech has a market capitalization of $594.78 million, a P/E ratio of 17.41, and a beta of 1.23. The stock’s fifty-day moving average price is $3.99 and its two-hundred day moving average price is $4.44. The company has a current ratio of 1.21, a quick ratio of 1.21, and a debt-to-equity ratio of 0.32.
UP Fintech Holding Limited provides online brokerage services for Chinese investors, offering a platform to trade stocks, options, warrants, and other financial instruments. Despite the recent analyst downgrade, the company continues to focus on its value-added services, including investor education and account management services.
In conclusion, the analyst downgrade by Citigroup and the subsequent drop in stock price for UP Fintech reflects a challenging time for the company. However, with institutional investors showing interest and the company’s focus on providing quality services to its customers, there may be potential for recovery in the future.
