UP Fintech (NASDAQ:TIGR) Stock Price Up 9.8% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price was up 9.8% during trading on Wednesday . The company traded as high as $7.91 and last traded at $7.75. Approximately 4,255,218 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 6,793,293 shares. The stock had previously closed at $7.06.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target for the company.

UP Fintech Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day moving average price of $7.08 and a two-hundred day moving average price of $6.16. The stock has a market cap of $1.44 billion, a PE ratio of 38.79 and a beta of 0.86.

Hedge Funds Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP increased its position in 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 purchasing an additional 4,654,351 shares during the period. Two Sigma Investments LP grew its holdings in shares of UP Fintech by 808.5% during the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after acquiring an additional 1,617,702 shares during the period. Millennium Management LLC lifted 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 valued at $10,471,000 after buying an additional 1,561,617 shares during the period. Contrarius Group Holdings Ltd purchased a new stake in shares of UP Fintech in the 4th quarter worth about $8,105,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of UP Fintech by 841.6% during the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock valued at $5,742,000 after purchasing an additional 794,500 shares during the last quarter. 9.03% of the stock is 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.