UP Fintech (NASDAQ:TIGR) Shares Up 11.5% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) rose 11.5% on Wednesday . The stock traded as high as $8.18 and last traded at $8.31. Approximately 3,982,436 shares changed hands during trading, a decline of 23% from the average daily volume of 5,167,621 shares. The stock had previously closed at $7.45.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TIGR. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a research report on Thursday, October 24th. Citigroup reiterated a “sell” rating and set a $5.50 target price (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price target on the stock.

UP Fintech Trading Up 14.0 %

The firm has a 50 day simple moving average of $6.83 and a 200 day simple moving average of $5.85. The firm has a market cap of $1.57 billion, a P/E ratio of 42.63 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.

Institutional Trading of UP Fintech

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in shares of UP Fintech during the 3rd quarter valued at $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in UP Fintech by 66.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock valued at $1,090,000 after buying an additional 81,300 shares during the period. Sparta 24 Ltd. grew its position in UP Fintech by 113.7% during the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after buying an additional 1,675,296 shares in the last quarter. Virtu Financial LLC bought a new position in UP Fintech in the 3rd quarter worth about $539,000. Finally, Diversify Wealth Management LLC bought a new position in UP Fintech in the 4th quarter worth about $742,000. 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.