UP Fintech (NASDAQ:TIGR) Trading Up 4% – Time to Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price was up 4% during trading on Tuesday . The stock traded as high as $9.26 and last traded at $9.19. Approximately 2,679,213 shares were traded during trading, a decline of 58% from the average daily volume of 6,402,810 shares. The stock had previously closed at $8.83.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TIGR. Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and upped their target price for the stock from $5.80 to $9.50 in a report on Wednesday, March 19th. Bank of America began coverage on shares of UP Fintech in a report on Monday, March 17th. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective for the company.

UP Fintech Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $1.63 billion, a PE ratio of 44.15 and a beta of 0.87. The business’s 50 day moving average is $7.62 and its two-hundred day moving average is $6.76.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The company had revenue of $124.10 million during the quarter, compared to the consensus estimate of $73.60 million. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

Hedge Funds Weigh In On UP Fintech

Several institutional investors have recently modified their holdings of TIGR. Voloridge Investment Management LLC bought a new stake in UP Fintech in the 4th quarter worth approximately $321,000. Vident Advisory LLC lifted its holdings in shares of UP Fintech by 15.0% in the 4th quarter. Vident Advisory LLC now owns 74,172 shares of the company’s stock worth $479,000 after acquiring an additional 9,680 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of UP Fintech by 841.6% in the 4th quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock valued at $5,742,000 after purchasing an additional 794,500 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of UP Fintech by 808.5% during the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock valued at $11,743,000 after purchasing an additional 1,617,702 shares during the last quarter. Finally, Tairen Capital Ltd bought a new position in shares of UP Fintech during the 4th quarter valued at $68,000. 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.