UP Fintech (NASDAQ:TIGR) Raised to Neutral at Citigroup

UP Fintech (NASDAQ:TIGR) was upgraded by research analysts at Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

Other equities research analysts also recently issued research reports about the stock. Bank of America began coverage on shares of UP Fintech in a research report on Monday. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price target for the company.

UP Fintech Trading Up 21.6 %

NASDAQ:TIGR opened at $9.69 on Wednesday. UP Fintech has a 12-month low of $3.10 and a 12-month high of $14.48. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $7.27 and its 200-day simple moving average is $6.55. The firm has a market cap of $1.79 billion, a P/E ratio of 48.45 and a beta of 0.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its position in shares of UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after acquiring an additional 4,654,351 shares during the period. Two Sigma Investments LP raised its holdings in UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after purchasing an additional 1,617,702 shares during the last quarter. Millennium Management LLC boosted its position in UP Fintech by 2,631.2% during the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock worth $10,471,000 after purchasing an additional 1,561,617 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new stake in UP Fintech in the fourth quarter valued at $8,105,000. Finally, Two Sigma Advisers LP increased its position in shares of UP Fintech by 841.6% in the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock valued at $5,742,000 after buying an additional 794,500 shares in the last quarter. 9.03% of the stock is currently owned by institutional investors and hedge funds.

UP Fintech Company Profile

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.