Shares of UP Fintech Holding, also known as Tiger Brokers, declined by 7.4% amid a mixed analyst sentiment and ongoing reassessment of its valuation, highlighting the volatility faced by Chinese online brokers on the US stock market.
UP Fintech Holding shares fell 7.4% on Thursday as investors continued to reassess the Chinese online broker’s outlook. The stock dropped to as low as $4.36 and changed hands most recently at $4.2490, with volume of 1.94 million shares, well below its average daily turnover of 3.25 million. The decline left the New York-listed shares below the previous close of $4.59.
The latest slide came against a mixed but broadly cautious analyst backdrop. MarketBeat said Citigroup cut its price target to $7.10 and kept a buy recommendation, while Jefferies reiterated a buy rating with a $7.70 target. Other recent notes from Weiss Ratings, Zacks Research and Wall Street Zen pointed to more restrained views, leaving the overall consensus at hold, with an average target of $8.16.
Even after Thursday’s move, valuation metrics suggest the market is still pricing TIGR at a relatively modest multiple. MarketBeat reported a forward-looking quick ratio and current ratio of 1.10, debt-to-equity of 0.06, a market value of about $806 million, and a price-to-earnings ratio of 7.29. StockAnalysis and BullStory both showed the shares trading near the lower end of a 52-week range that has stretched from about $4.00 to more than $11, underscoring how sharply the stock has swung over the past year.
UP Fintech, which operates under the Tiger Brokers brand, runs a digital brokerage platform that gives investors access to stocks, exchange-traded funds, options, futures and other products, depending on local rules. The company also offers margin financing, market data, research tools, portfolio management features and subscription services for new issues. Institutional investors still hold a relatively small slice of the company overall, but several funds have recently adjusted their stakes, including Sparta 24 Ltd., which increased its position in the first quarter.
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