UP Fintech (NASDAQ:TIGR) Shares Gap Up – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) 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 traded.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TIGR shares. Citigroup reissued a “sell” rating and set a $5.50 target price (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. China Renaissance raised 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 Trading Up 2.5 %

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 cap of $1.36 billion, a PE ratio of 36.95 and a beta of 0.88. The stock has a 50 day moving average price of $6.44 and a 200 day moving average price of $5.26.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TIGR. GAMMA Investing LLC boosted its stake in UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after acquiring an additional 2,104 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after purchasing an additional 9,748 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of UP Fintech in the 2nd quarter worth approximately $78,000. Asset Management One Co. Ltd. grew its stake in shares of UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after buying an additional 4,377 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in UP Fintech by 100.6% during the 2nd quarter. Headlands Technologies LLC now owns 19,954 shares of the company’s stock valued at $84,000 after buying an additional 10,006 shares in the last quarter. 9.03% of the stock is currently 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.