UP Fintech (NASDAQ:TIGR) Shares Gap Up – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) gapped up before the market opened on Monday . The stock had previously closed at $6.15, but opened at $7.08. UP Fintech shares last traded at $7.56, with a volume of 10,908,644 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective for the company in a report on Thursday, October 24th. Citigroup reiterated 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.

UP Fintech Stock Performance

The business has a fifty day simple moving average of $6.75 and a two-hundred day simple moving average of $5.03. The company has a market cap of $1.48 billion, a P/E ratio of 37.80 and a beta of 0.88. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On UP Fintech

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

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.