UP Fintech (NASDAQ:TIGR) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of UP Fintech (NASDAQ:TIGR) to a hold rating in a research note issued to investors on Monday,Zacks reports.

TIGR has been the subject of several other reports. Wall Street Zen upgraded shares of UP Fintech from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Citigroup decreased their price target on shares of UP Fintech to $7.10 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a research note on Monday, August 31st. Bank of America reissued a “buy” rating on shares of UP Fintech in a research report on Monday, June 1st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $7.70 price objective on shares of UP Fintech in a research note on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, UP Fintech has a consensus rating of “Hold” and a consensus target price of $8.16.

UP Fintech Trading Down 2.9%

UP Fintech stock opened at $4.71 on Monday. The business has a 50-day simple moving average of $4.87 and a two-hundred day simple moving average of $5.64. The company has a market cap of $893.49 million, a P/E ratio of 7.98, a P/E/G ratio of 0.32 and a beta of 0.51. UP Fintech has a 52-week low of $4.00 and a 52-week high of $11.55. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.06.

Insider Activity

In other news, Director Jian Liu sold 9,333 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $4.60, for a total value of $42,931.80. Following the completion of the sale, the director directly owned 62,665 shares of the company’s stock, valued at $288,259. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On UP Fintech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital International Investors bought a new stake in UP Fintech in the fourth quarter worth $47,855,000. Jupiter Asset Management Ltd. lifted its position in UP Fintech by 157.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company’s stock valued at $40,307,000 after purchasing an additional 2,577,459 shares during the last quarter. Sparta 24 Ltd. grew its stake in shares of UP Fintech by 9.1% in the 1st quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock worth $36,592,000 after buying an additional 482,607 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of UP Fintech by 129.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock worth $11,227,000 after buying an additional 1,006,566 shares during the last quarter. Finally, Contrarius Group Holdings Ltd bought a new stake in shares of UP Fintech in the 4th quarter worth about $10,243,000. 9.03% of the stock is owned by institutional investors.

About UP Fintech

UP Fintech Holding Limited, operating under the Tiger Brokers brand, is an online brokerage and financial services company focused on serving investors through digital trading platforms. The company provides access to securities markets and offers tools for trading stocks, exchange-traded funds, options, futures and other investment products, subject to the regulations of the markets in which its subsidiaries operate.

Tiger Brokers’ platforms are designed to support individual and institutional investors with services that may include brokerage accounts, margin financing, market data, research, portfolio management tools and new-issue or initial public offering subscription services.