UP Fintech (NASDAQ:TIGR) Shares Gap Up – Still a Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $7.21, but opened at $7.40. UP Fintech shares last traded at $7.42, with a volume of 738,433 shares trading hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup reissued a “sell” rating and issued a $5.50 target price (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective on the stock in a research report on Thursday, October 24th.

UP Fintech Stock Performance

The company has a market capitalization of $1.36 billion, a P/E ratio of 36.95 and a beta of 0.88. 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 company’s 50-day moving average is $6.44 and its two-hundred day moving average is $5.26.

Institutional Trading of UP Fintech

Several institutional investors and hedge funds have recently made changes to their positions in TIGR. SG Americas Securities LLC bought a new position in UP Fintech in the second quarter valued at $78,000. Sparta 24 Ltd. purchased a new position in shares of UP Fintech during the 2nd quarter valued at about $6,186,000. Headlands Technologies LLC lifted its position in UP Fintech by 100.6% in the 2nd quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock worth $84,000 after buying an additional 10,006 shares during the last quarter. Renaissance Technologies LLC boosted its stake in UP Fintech by 162.7% in the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock worth $388,000 after buying an additional 57,257 shares in the last quarter. Finally, Marshall Wace LLP grew its position in UP Fintech by 52.8% during the second quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock valued at $4,671,000 after acquiring an additional 384,213 shares during the last quarter. Hedge funds and other 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.