UP Fintech (NASDAQ:TIGR) Trading Up 6.4% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price rose 6.4% during trading on Thursday . The company traded as high as $6.84 and last traded at $6.95. Approximately 2,475,779 shares traded hands during trading, a decline of 33% from the average daily volume of 3,701,228 shares. The stock had previously closed at $6.53.

Wall Street Analyst Weigh In

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

UP Fintech Price Performance

The company has a market capitalization of $1.31 billion, a PE ratio of 35.35 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50 day simple moving average is $6.48 and its 200 day simple moving average is $5.60.

Hedge Funds Weigh In On UP Fintech

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its position in shares of UP Fintech by 52.8% during the second quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after acquiring an additional 384,213 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of UP Fintech during the third quarter worth $516,000. Sparta 24 Ltd. lifted its holdings in shares of 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 purchasing an additional 1,675,296 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 purchasing an additional 81,300 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of UP Fintech during the third quarter worth $539,000. 9.03% of the stock is currently 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.