UP Fintech (NASDAQ:TIGR) Shares Gap Up – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $4.84, but opened at $5.24. UP Fintech shares last traded at $4.9640, with a volume of 1,607,761 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of UP Fintech from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Citigroup cut their price target on shares of UP Fintech to $7.10 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Finally, Bank of America restated a “buy” rating on shares of UP Fintech in a research note on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, UP Fintech has a consensus rating of “Moderate Buy” and an average target price of $9.23.

UP Fintech Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $940.53 million, a P/E ratio of 8.26 and a beta of 0.48. The stock has a fifty day simple moving average of $4.72 and a 200-day simple moving average of $6.05.

Insider Buying and Selling at UP Fintech

In related news, Director Jian Liu sold 9,333 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $4.60, for a total value of $42,931.80. Following the completion of the sale, the director directly owned 62,665 shares in the company, valued at approximately $288,259. This trade represents a 12.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 50.90% of the stock is owned by corporate insiders.

Institutional Trading of UP Fintech

Institutional investors have recently bought and sold shares of the business. Capital International Investors acquired a new position in UP Fintech during the 4th quarter worth approximately $47,855,000. Jupiter Asset Management Ltd. raised its stake in UP Fintech by 157.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company’s stock worth $40,307,000 after buying an additional 2,577,459 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in UP Fintech by 66.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company’s stock valued at $57,705,000 after purchasing an additional 2,161,023 shares during the last quarter. National Bank of Canada FI grew its stake in shares of UP Fintech by 450.4% in the 3rd quarter. National Bank of Canada FI now owns 1,976,720 shares of the company’s stock worth $21,092,000 after acquiring an additional 1,617,600 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of UP Fintech by 122.6% during the second quarter. Bank of America Corp DE now owns 2,282,337 shares of the company’s stock valued at $22,025,000 after acquiring an additional 1,257,251 shares during the last quarter. Institutional investors own 9.03% of the company’s stock.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.