UP Fintech (NASDAQ:TIGR) Stock Price Up 6.4% – Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) traded up 6.4% during mid-day trading on Thursday . The company traded as high as $6.84 and last traded at $6.95. 2,475,779 shares were traded during trading, a decline of 33% from the average session volume of 3,701,228 shares. The stock had previously closed at $6.53.

Analysts Set New Price Targets

Several brokerages have weighed in on TIGR. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price on the stock. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a research note on Thursday, October 24th. Finally, Citigroup reissued a “sell” rating and issued a $5.50 price objective (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd.

UP Fintech Trading Up 5.8 %

The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 34.55 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 $6.43 and a 200-day moving average of $5.57.

Institutional Investors Weigh In On UP Fintech

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of UP Fintech by 162.7% during the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock worth $388,000 after purchasing an additional 57,257 shares during the period. Marshall Wace LLP raised its holdings in UP Fintech by 52.8% during the second quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after purchasing an additional 384,213 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of UP Fintech in the second quarter valued at $129,000. GAMMA Investing LLC lifted its holdings in UP Fintech by 53.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after acquiring an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after buying an additional 9,748 shares in the last quarter. Institutional investors and hedge funds 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.