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

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price rose 11.5% during trading on Wednesday . The stock traded as high as $8.18 and last traded at $8.31. Approximately 3,982,436 shares traded hands 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.

Wall Street Analysts Forecast Growth

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

UP Fintech Stock Up 1.8 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.56 billion, a P/E ratio of 42.35 and a beta of 0.86. The company has a 50-day moving average of $6.92 and a two-hundred day moving average of $5.89.

Institutional Investors Weigh In On UP Fintech

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in UP Fintech in the fourth quarter worth about $34,000. GAMMA Investing LLC grew its holdings in UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after purchasing an additional 2,104 shares during the period. Burns Matteson Capital Management LLC purchased a new stake in UP Fintech in the fourth quarter worth about $91,000. Alliance Wealth Advisors LLC UT purchased a new stake in UP Fintech in the fourth quarter worth about $92,000. Finally, Blue Trust Inc. grew its holdings in UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares during the period. Hedge funds and other institutional investors own 9.03% of the company’s stock.

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.