UP Fintech (NASDAQ:TIGR) Trading 8.3% Higher – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price traded up 8.3% during trading on Friday . The stock traded as high as $6.65 and last traded at $6.76. 1,518,371 shares changed hands during trading, a decline of 48% from the average session volume of 2,907,522 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

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

UP Fintech Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $6.38 and its two-hundred day simple moving average is $5.50. The firm has a market cap of $1.23 billion, a PE ratio of 33.23 and a beta of 0.86.

Institutional Trading of UP Fintech

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings 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 worth $32,000 after buying an additional 2,104 shares during the period. Blue Trust Inc. boosted its holdings in UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after acquiring an additional 9,748 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in UP Fintech by 38.5% in the 3rd 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 during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of UP Fintech in the 4th quarter valued at $119,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in UP Fintech in the 3rd quarter worth approximately $121,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

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.