UP Fintech (NASDAQ:TIGR) Shares Gap Up – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) shares 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 Analyst Weigh In

Several brokerages have recently weighed in on TIGR. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price target for the company. Citigroup reissued 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, China Renaissance upgraded shares of 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.

UP Fintech Trading Up 4.7 %

The company has a market cap of $1.64 billion, a P/E ratio of 44.35 and a beta of 0.86. The firm has a 50-day moving average of $6.98 and a 200 day moving average 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.

Institutional Trading of UP Fintech

Several large investors have recently modified their holdings of TIGR. GAMMA Investing LLC grew its holdings in UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after purchasing an additional 2,104 shares during the period. Blue Trust Inc. grew its stake in shares of UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after buying an additional 9,748 shares during the period. Sparta 24 Ltd. increased its position in UP Fintech by 113.7% in the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after buying an additional 1,675,296 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in UP Fintech by 38.5% in the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after acquiring an additional 4,377 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in UP Fintech by 10.1% in the third quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock valued at $3,610,000 after acquiring an additional 62,145 shares during the period. Institutional investors and hedge funds 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.