UP Fintech (NASDAQ:TIGR) Shares Gap Up – Still a Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) shares gapped up before the market opened on Thursday . The stock had previously closed at $8.10, but opened at $8.56. UP Fintech shares last traded at $8.33, with a volume of 3,231,748 shares changing hands.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft assumed 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 Trading Down 1.2 %

The firm has a market capitalization of $1.51 billion, a PE ratio of 41.00 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 firm has a fifty day moving average of $7.10 and a 200 day moving average of $6.08.

Institutional Investors Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in shares of UP Fintech by 527.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $30,000 after acquiring an additional 3,901 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in UP Fintech during the 4th quarter valued at approximately $34,000. Deutsche Bank AG acquired a new position in UP Fintech during the 4th quarter valued at approximately $38,000. GAMMA Investing LLC boosted its position in UP Fintech by 51.5% during the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock worth $59,000 after acquiring an additional 3,105 shares during the period. Finally, Tairen Capital Ltd bought a new stake in shares of UP Fintech in the 4th quarter worth $68,000. 9.03% of the stock is currently owned by hedge funds and other 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.