UP Fintech (NASDAQ:TIGR) Upgraded by Citigroup to Neutral Rating

Citigroup upgraded shares of UP Fintech (NASDAQ:TIGR) from a sell rating to a neutral rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $9.50 target price on the stock, up from their prior target price of $5.80.

Several other research firms have also recently weighed in on TIGR. Bank of America initiated coverage on UP Fintech in a research note on Monday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective for the company.

UP Fintech Stock Down 0.3 %

Shares of NASDAQ TIGR opened at $9.66 on Wednesday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 48.30 and a beta of 0.87. The stock’s fifty day moving average is $7.33 and its 200 day moving average is $6.57. UP Fintech has a 52 week low of $3.10 and a 52 week high of $14.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.

UP Fintech (NASDAQ:TIGR) last released its earnings results on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.11 by $0.06. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The firm had revenue of $124.10 million for the quarter, compared to analyst estimates of $73.60 million.

Hedge Funds Weigh In On UP Fintech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in shares of UP Fintech during the third quarter worth $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in UP Fintech by 66.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after purchasing an additional 81,300 shares in the last quarter. Virtu Financial LLC acquired a new position in UP Fintech in the 3rd quarter worth about $539,000. Nkcfo LLC acquired a new stake in shares of UP Fintech during the fourth quarter valued at about $323,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of UP Fintech during the fourth quarter worth about $742,000. Institutional investors own 9.03% of the company’s stock.

UP Fintech Company Profile

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.