UP Fintech Holding Limited (NASDAQ:TIGR) is one of the stocks that are grabbing investor focus today: sinking -7.54% or (-0.27 points) to $3.31 from its previous close of $3.58. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 217402 contracts so far this session. TIGR shares had a relatively better volume day versus average trading capacity of 258.99 thousand shares, but with a 68.19 million float and a -3.24% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TIGR stock indicates that the average analyst price target is $5.8 per share. This means the stock has a potential increase of 75.23% from where the TIGR share price has been trading recently which is between $3.56 and $3.64. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $5.8. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $5.8.
Looking at the current readings for UP Fintech Holding Limited, the two-week RSI stands at 25.93. This figure suggests that TIGR stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current TIGR readings is similarly very revealing as it has a stochastic reading of 7.88% at this stage. This figure means that TIGR share price today is being overbought.
Technical chart claims that UP Fintech Holding Limited (TIGR) would settle between $3.63/share to $3.67/share level. However, if the stock price goes below the $3.55 mark, then the market for UP Fintech Holding Limited becomes much weaker. If that happens, the stock price might even plunge as low as $3.51 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.1. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
TIGR equity has an average rating of 3, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated UP Fintech Holding Limited (NASDAQ:TIGR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TIGR stock price is currently trading at 14.32X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 14.2. UP Fintech Holding Limited current P/B ratio of 2.4 means it is trading at a premium against its industry’s 1.6.