Up Fintech Holding Ltd ADR (TIGR) said ahead of Friday’s opening that it lost $0.013 per share in the first quarter of 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analysts’ estimates or prior periods.
As for revenue, the company reported $52.6 million, beating estimates of $49,000.
In the same quarter a year ago, the company earned $0.037 per share on revenue of $38 million.
The stock is down 13.14% at $4.40 after the report.
Despite the increase in revenues, profits declined, signaling declining profit margins.
Wall Street analysts had a strong average buy rating on the stock ahead of the report.
InvestorsObserver gives the stock a bullish sentiment score at the moment based on recent trades.
Up Fintech Holding Ltd ADR has performed slightly above average over the past few months. Prior to the report, Up Fintech Holding Ltd ADR received a long-term technical ranking by InvestorsObserver of 62, putting it in the top half of the stock. The company was recently trading at a 52-week low of $2.68 on March 15, 2022 and set a 52-week high on June 15, 2021 at $29.93.
UP Fintech Holding Ltd is an online brokerage company focused on Chinese investors. Its trading platform allows investors to trade stocks and other financial instruments on multiple equity exchanges and other derivatives. The Company provides its clients with brokerage and value-added services, including trade order placement and execution, margin financing, account management, investor education, community discussions and customer support.