Bank of America Begins Coverage on UP Fintech (NASDAQ:TIGR)

Bank of America assumed coverage on shares of UP Fintech (NASDAQ:TIGR) in a research note published on Monday, MarketBeat.com reports. The firm issued a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective for the company.

UP Fintech Price Performance

Shares of TIGR opened at $9.66 on Monday. UP Fintech has a 52 week low of $3.10 and a 52 week high of $14.48. 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 firm has a market cap of $1.78 billion, a price-to-earnings ratio of 48.30 and a beta of 0.87. The stock has a 50 day moving average of $7.33 and a 200-day moving average of $6.57.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The firm had revenue of $124.10 million during the quarter, compared to the consensus estimate of $73.60 million. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

Institutional Investors Weigh In On UP Fintech

Several large investors have recently added to or reduced their stakes in TIGR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 worth $1,090,000 after acquiring an additional 81,300 shares during the last quarter. Centiva Capital LP bought a new position in UP Fintech in the 3rd quarter worth about $209,000. Quadrature Capital Ltd acquired a new stake in shares of UP Fintech in the third quarter valued at approximately $516,000. State Street Corp increased its stake in shares of UP Fintech by 4.8% in the third quarter. State Street Corp now owns 742,452 shares of the company’s stock valued at $3,965,000 after purchasing an additional 34,186 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of UP Fintech during the third quarter valued at approximately $121,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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.