UP Fintech (NASDAQ:TIGR) Shares Gap Up – Time to Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $8.47, but opened at $9.20. UP Fintech shares last traded at $8.76, with a volume of 6,746,949 shares trading hands.

Analyst Ratings Changes

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

UP Fintech Stock Up 1.9 %

The firm has a 50 day moving average of $6.92 and a two-hundred day moving average of $5.89. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 43.12 and a beta of 0.86. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

Institutional Trading of UP Fintech

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of UP Fintech by 527.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $30,000 after purchasing an additional 3,901 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after purchasing an additional 2,104 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of UP Fintech during the fourth quarter valued at about $34,000. Blue Trust Inc. raised its position in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after acquiring an additional 9,748 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after acquiring an additional 4,377 shares during the last quarter. 9.03% of the stock is owned by institutional investors and hedge funds.

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.