UP Fintech (NASDAQ:TIGR) Shares Gap Up – Time to Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.10, but opened at $8.56. UP Fintech shares last traded at $8.33, with a volume of 3,231,748 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TIGR. China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target for the company.

UP Fintech Stock Up 0.1 %

The business’s 50 day simple moving average is $7.06 and its 200 day simple moving average is $6.03. The company has a market capitalization of $1.50 billion, a PE ratio of 40.56 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.

Institutional Investors Weigh In On UP Fintech

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after buying an additional 9,748 shares during the period. Sparta 24 Ltd. grew its stake 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 acquiring an additional 1,675,296 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in UP Fintech by 38.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after acquiring an additional 4,377 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of UP Fintech by 10.1% in the 3rd quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock valued at $3,610,000 after purchasing an additional 62,145 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of UP Fintech by 66.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after purchasing an additional 81,300 shares in the last quarter. Hedge funds and other institutional investors own 9.03% of the company’s stock.

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.