UP Fintech (NASDAQ:TIGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of UP Fintech (NASDAQ:TIGR) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other brokerages also recently commented on TIGR. Citigroup upgraded shares of UP Fintech from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $5.80 to $9.50 in a report on Wednesday, March 19th. Bank of America assumed coverage on shares of UP Fintech in a report on Monday, March 17th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.83.

UP Fintech Stock Up 3.2%

UP Fintech stock opened at $8.37 on Friday. The company has a market capitalization of $1.55 billion, a P/E ratio of 41.85 and a beta of 0.70. The firm’s fifty day simple moving average is $8.18 and its 200-day simple moving average is $7.46. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. UP Fintech has a 1-year low of $3.36 and a 1-year high of $14.48.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings results on Friday, May 30th. The company reported $0.20 earnings per share for the quarter. The business had revenue of $122.61 million for the quarter. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in shares of UP Fintech by 818.7% during the 1st quarter. Acadian Asset Management LLC now owns 126,596 shares of the company’s stock worth $1,085,000 after purchasing an additional 112,816 shares during the period. Millennium Management LLC increased its holdings in shares of UP Fintech by 48.0% during the 1st quarter. Millennium Management LLC now owns 2,398,744 shares of the company’s stock worth $20,605,000 after purchasing an additional 777,776 shares during the period. Eschler Asset Management LLP bought a new position in shares of UP Fintech during the 1st quarter worth about $1,031,000. Vident Advisory LLC increased its holdings in shares of UP Fintech by 20.7% during the 1st quarter. Vident Advisory LLC now owns 89,490 shares of the company’s stock worth $769,000 after purchasing an additional 15,318 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of UP Fintech during the 1st quarter worth about $9,467,000. 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.