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

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $7.01, but opened at $7.36. UP Fintech shares last traded at $7.52, with a volume of 2,045,684 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective on the stock.

UP Fintech Price Performance

The company has a market capitalization of $1.38 billion, a PE ratio of 37.38 and a beta of 0.87. The stock’s 50-day moving average is $7.15 and its two-hundred day moving average is $6.41. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in UP Fintech by 66.2% during the third 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 buying an additional 81,300 shares during the period. Centiva Capital LP acquired a new stake in UP Fintech in the third quarter valued at approximately $209,000. Quadrature Capital Ltd purchased a new position in UP Fintech during the 3rd quarter worth $516,000. State Street Corp boosted its holdings in UP Fintech by 4.8% in the third quarter. State Street Corp now owns 742,452 shares of the company’s stock worth $3,965,000 after acquiring an additional 34,186 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of UP Fintech during the third quarter worth about $121,000. 9.03% of the stock is currently owned by 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.