UP Fintech (NASDAQ:TIGR) Shares Gap Up – Still a Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.50, but opened at $5.73. UP Fintech shares last traded at $5.73, with a volume of 162,768 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TIGR. Citigroup reaffirmed a “sell” rating and issued a $5.50 target price (up previously from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. 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 report on Thursday, October 24th.

UP Fintech Trading Up 4.0 %

The company has a market cap of $1.06 billion, a price-to-earnings ratio of 27.50 and a beta of 0.91. The business has a fifty day simple moving average of $6.45 and a 200 day simple moving average of $4.93. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). UP Fintech had a return on equity of 6.09% and a net margin of 9.14%. The company had revenue of $87.44 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIGR. Virtu Financial LLC acquired a new position in UP Fintech during the third quarter worth about $539,000. Geode Capital Management LLC lifted its stake in UP Fintech by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock valued at $437,000 after buying an additional 4,082 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in UP Fintech during the 3rd quarter valued at $121,000. State Street Corp increased its position 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 buying an additional 34,186 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of UP Fintech in the third quarter worth $516,000. 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.