UP Fintech (NASDAQ:TIGR) Now Covered by Bank of America

Equities researchers at Bank of America began coverage on shares of UP Fintech (NASDAQ:TIGR) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the stock.

Separately, 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.

UP Fintech Stock Up 9.1 %

Shares of NASDAQ:TIGR opened at $7.65 on Monday. The stock has a market capitalization of $1.41 billion, a P/E ratio of 38.25 and a beta of 0.87. The stock’s 50-day moving average price is $7.17 and its 200-day moving average price is $6.48. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. UP Fintech has a 12-month low of $3.10 and a 12-month high of $14.48.

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of UP Fintech by 66.2% in 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 last quarter. Centiva Capital LP bought a new stake in shares of UP Fintech in the 3rd quarter worth approximately $209,000. Quadrature Capital Ltd bought a new stake in shares of UP Fintech in the 3rd quarter worth approximately $516,000. State Street Corp increased its stake in shares of UP Fintech by 4.8% during the third quarter. State Street Corp now owns 742,452 shares of the company’s stock valued at $3,965,000 after buying an additional 34,186 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of UP Fintech during the third quarter valued at approximately $121,000. 9.03% of the stock is owned by institutional investors.

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.