UP Fintech (NASDAQ:TIGR) Stock Price Up 11.5% – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) shares were up 11.5% during trading on Wednesday . The company traded as high as $8.18 and last traded at $8.31. Approximately 3,982,436 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 5,167,621 shares. The stock had previously closed at $7.45.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TIGR. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective for the company. Citigroup restated a “sell” rating and issued a $5.50 price objective (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. 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 research report on Thursday, October 24th.

UP Fintech Stock Up 14.0 %

The firm’s 50 day moving average price is $6.83 and its two-hundred day moving average price is $5.85. 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 company has a market capitalization of $1.57 billion, a P/E ratio of 42.63 and a beta of 0.86.

Hedge Funds Weigh In On UP Fintech

A number of institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd bought a new stake in shares of UP Fintech during the 3rd quarter worth about $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 acquiring an additional 81,300 shares during the period. Sparta 24 Ltd. grew its position in shares of UP Fintech by 113.7% in the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after purchasing an additional 1,675,296 shares during the last quarter. Virtu Financial LLC bought a new position in shares of UP Fintech during the third quarter worth approximately $539,000. Finally, Diversify Wealth Management LLC acquired a new stake in UP Fintech during the 4th quarter worth approximately $742,000. Institutional investors and hedge funds 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.