Daiwa Capital Markets Downgrades UP Fintech (NASDAQ:TIGR) to Hold

by James · May 20, 2023

UP Fintech (NASDAQ:TIGR – Get Rating) was downgraded by research analysts at Daiwa Capital Markets from a “buy” rating to a “hold” rating in a report issued on Friday, The Fly reports.

Separately, Citigroup dropped their price target on UP Fintech from $7.67 to $6.32 in a research note on Thursday, March 30th.

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UP Fintech share up 3.4%

Shares of NASDAQ:TIGR traded up $0.08 on Friday, hitting $2.41. 446,157 shares of the company’s stock were exchanged, compared to its average volume of 1,061,094. The firm’s 50-day moving average is $3.04 and its 200-day moving average is $3.86. The company has a gearing ratio of 0.35, a quick ratio of 1.18 and a gearing ratio of 1.18. The company has a market cap of $371.07 million, a PE ratio of -120.00 and a beta of 1.35. UP Fintech has a 1 year low of $2.31 and a 1 year high of $5.79.

UP Fintech (NASDAQ:TIGR – Get Rating) last posted its earnings results on Wednesday, March 29th. The company reported $0.01 EPS for the quarter. UP Fintech had a negative net margin of 0.97% and a negative return on equity of 0.35%. The firm had revenue of $63.85 million in the quarter.

Hedge funds weigh in on UP Fintech

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. boosted its holdings in shares of UP Fintech by 54.6% in the first quarter. Advisor Group Holdings Inc. now owns 11,040 shares of the company’s stock valued at $54,000 after purchasing an additional 3,900 shares during the period. BlackRock Inc. raised its stake in shares of UP Fintech by 2.8% during the 1st quarter. BlackRock Inc. now owns 1,881,275 shares of the company’s stock worth $9,218,000 after buying an additional 51,577 shares in the last quarter. Cetera Investment Advisers raised its stake in UP Fintech by 31.0% during the first quarter. Cetera Investment Advisers now owns 19,000 shares of the company’s stock worth $93,000 after buying an additional 4,500 shares in the last quarter. Penserra Capital Management LLC boosted its position in UP Fintech by 21.3% during the first quarter. Penserra Capital Management LLC now owns 128,714 shares of the company’s stock worth $630,000 after purchasing an additional 22,564 shares during the period. Finally, Invesco Ltd. lifted its position in shares in UP Fintech by 63.6% during the 1st quarter. Invesco Ltd. now owns 144,835 shares of the company’s stock valued at $710,000 after buying an additional 56,290 shares during the period. Institutional investors and hedge funds own 4.39% of the company’s shares.

UP Fintech Company Profile

(Get rating)

UP Fintech Holding Ltd. is a brokerage firm that provides online brokerage services. The company was founded by Tian Hua Wu in 2014 and is headquartered in Singapore.

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