UP Fintech (NASDAQ:TIGR) Stock Price Up 7% – Still a Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) shares rose 7% during mid-day trading on Tuesday . The stock traded as high as $7.24 and last traded at $7.17. Approximately 1,327,156 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 4,318,280 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

TIGR has been the subject of several recent research reports. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective for the company. Finally, Citigroup reaffirmed 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.

UP Fintech Price Performance

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 36.87 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $5.75.

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after buying an additional 2,104 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of UP Fintech in the 4th quarter valued at about $34,000. Blue Trust Inc. grew its position in shares of UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after buying an additional 9,748 shares during the last quarter. Asset Management One Co. Ltd. grew its position 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 valued at $84,000 after buying an additional 4,377 shares during the last quarter. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of UP Fintech in the 4th quarter valued at about $91,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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.