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 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 traded.

Wall Street Analysts Forecast Growth

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

UP Fintech Trading Up 4.7 %

The firm has a 50-day moving average price of $6.98 and a 200-day moving average price of $5.93. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.64 billion, a PE ratio of 44.35 and a beta of 0.86.

Institutional Trading of UP Fintech

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

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.