UP Fintech (NASDAQ:TIGR) Trading Up 4.2% – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price was up 4.2% during mid-day trading on Thursday . The company traded as high as $7.14 and last traded at $7.14. Approximately 1,470,349 shares were traded during trading, a decline of 71% from the average daily volume of 4,996,900 shares. The stock had previously closed at $6.85.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a research report on Thursday, October 24th. Citigroup reiterated a “sell” rating and issued a $5.50 target price (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd.

UP Fintech Price Performance

The stock’s 50 day moving average is $6.64 and its two-hundred day moving average is $5.12. The stock has a market capitalization of $1.41 billion, a PE ratio of 38.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Investors Weigh In On UP Fintech

A number of large investors have recently modified their holdings of the company. Cetera Advisors LLC acquired a new position in shares of UP Fintech during the first quarter worth $117,000. SG Americas Securities LLC acquired a new position in shares of UP Fintech during the 2nd quarter worth about $78,000. Sparta 24 Ltd. purchased a new position in shares of UP Fintech in the 2nd quarter valued at about $6,186,000. Headlands Technologies LLC raised its position in shares of UP Fintech by 100.6% during the 2nd quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock worth $84,000 after acquiring an additional 10,006 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in UP Fintech by 162.7% during the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock worth $388,000 after purchasing an additional 57,257 shares during the last quarter. 9.03% of the stock is owned by hedge funds and other 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.