UP Fintech (NASDAQ:TIGR) Trading Up 6.4% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) shares were up 6.4% during mid-day trading on Thursday . The stock traded as high as $6.84 and last traded at $6.95. Approximately 2,475,779 shares were traded during trading, a decline of 33% from the average daily volume of 3,701,228 shares. The stock had previously closed at $6.53.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TIGR shares. Citigroup reaffirmed a “sell” rating and set a $5.50 target price (up previously from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target on the stock. Finally, China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a report on Thursday, October 24th.

UP Fintech Stock Performance

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 firm has a fifty day moving average price of $6.48 and a 200 day moving average price of $5.60. The firm has a market cap of $1.31 billion, a PE ratio of 35.35 and a beta of 0.86.

Institutional Trading of UP Fintech

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sparta 24 Ltd. raised its holdings in UP Fintech by 113.7% in the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after buying an additional 1,675,296 shares during the period. Marshall Wace LLP increased its stake in UP Fintech by 52.8% during the second quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after purchasing an additional 384,213 shares during the period. State Street Corp increased its stake in UP Fintech by 4.8% during the third quarter. State Street Corp now owns 742,452 shares of the company’s stock worth $3,965,000 after purchasing an additional 34,186 shares during the period. GSA Capital Partners LLP increased its stake in UP Fintech by 10.1% during the third quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock worth $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 increased its stake in UP Fintech by 66.2% during 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 during the period. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

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.