UP Fintech (NASDAQ:TIGR) Shares Gap Up – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.78, but opened at $6.12. UP Fintech shares last traded at $6.11, with a volume of 1,054,401 shares.

Wall Street Analysts Forecast Growth

TIGR has been the topic of a number of research analyst reports. Citigroup restated a “sell” rating and issued a $5.50 price target (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price on the stock. Finally, China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a research report on Thursday, October 24th.

UP Fintech Trading Down 1.0 %

The firm’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $5.49. The stock has a market cap of $1.13 billion, a P/E ratio of 30.65 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 2,104 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after buying an additional 9,748 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after buying an additional 4,377 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of UP Fintech during the third quarter valued at about $121,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in UP Fintech in the second quarter worth about $129,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

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.