UP Fintech (NASDAQ:TIGR) Trading 11.5% Higher – Time to Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) rose 11.5% on Wednesday . The company traded as high as $8.18 and last traded at $8.31. Approximately 3,982,436 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 5,167,621 shares. The stock had previously closed at $7.45.

Analysts Set New Price Targets

TIGR has been the subject of a number of recent analyst reports. Citigroup restated a “sell” rating and issued a $5.50 price objective (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price on the stock. Finally, China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a research note on Thursday, October 24th.

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 simple moving average of $6.92 and a 200 day simple moving average of $5.89. The firm has a market cap of $1.56 billion, a PE ratio of 42.35 and a beta of 0.86.

Institutional Trading of UP Fintech

Several institutional investors and hedge funds have recently modified their holdings of TIGR. Marshall Wace LLP boosted its holdings in UP Fintech by 492.4% in the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock worth $36,173,000 after buying an additional 4,654,351 shares during the period. Sparta 24 Ltd. boosted its stake in shares of UP Fintech by 113.7% in the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after acquiring an additional 1,675,296 shares during the period. Contrarius Group Holdings Ltd purchased a new stake in shares of UP Fintech during the fourth quarter worth about $8,105,000. State Street Corp raised its stake in UP Fintech by 4.8% during the 3rd quarter. State Street Corp now owns 742,452 shares of the company’s stock valued at $3,965,000 after purchasing an additional 34,186 shares during the period. Finally, GSA Capital Partners LLP raised its stake in UP Fintech by 10.1% during 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. 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.