UP Fintech (NASDAQ:TIGR) Trading 8.3% Higher – Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price was up 8.3% on Friday . The company traded as high as $6.65 and last traded at $6.76. Approximately 1,518,371 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 2,907,522 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TIGR shares. Citigroup reaffirmed a “sell” rating and issued a $5.50 target price (up previously from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective for the company in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price on the stock.

UP Fintech Stock Up 8.5 %

The stock has a market cap of $1.25 billion, a P/E ratio of 33.85 and a beta of 0.86. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $6.40 and a two-hundred day simple moving average of $5.52.

Institutional Investors Weigh In On UP Fintech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIGR. Marshall Wace LLP increased its position in shares of UP Fintech by 52.8% in the second quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock valued at $4,671,000 after acquiring an additional 384,213 shares during the period. Quadrature Capital Ltd bought a new stake in shares of UP Fintech in the third quarter worth about $516,000. Sparta 24 Ltd. increased its holdings in UP Fintech by 113.7% during the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after purchasing an additional 1,675,296 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in UP Fintech by 66.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock valued at $1,090,000 after purchasing an additional 81,300 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in UP Fintech in the 3rd quarter worth approximately $539,000. 9.03% of the stock is currently owned by institutional investors.

About UP Fintech

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.