UP Fintech (NASDAQ:TIGR) Shares Up 9.8% – Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) shares shot up 9.8% during mid-day trading on Wednesday . The stock traded as high as $7.91 and last traded at $7.75. 4,255,218 shares changed hands during trading, a decline of 37% from the average session 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 report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective for the company.

UP Fintech Price 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 firm has a market capitalization of $1.44 billion, a PE ratio of 38.79 and a beta of 0.86. The firm has a 50-day simple moving average of $7.08 and a 200-day simple moving average of $6.16.

Hedge Funds Weigh In On UP Fintech

Hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in shares of UP Fintech in the third quarter worth $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $1,090,000 after purchasing an additional 81,300 shares during the period. Virtu Financial LLC bought a new stake in shares of UP Fintech in the 3rd quarter valued at approximately $539,000. Nkcfo LLC purchased a new position in shares of UP Fintech in the 4th quarter worth approximately $323,000. Finally, Diversify Wealth Management LLC purchased a new stake in UP Fintech during the 4th quarter valued at $742,000. Institutional investors own 9.03% of the company’s stock.

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.