UP Fintech (NASDAQ:TIGR) Shares Up 4.6% – Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price shot up 4.6% during trading on Monday . The stock traded as high as $8.08 and last traded at $8.09. 874,391 shares traded hands during trading, a decline of 87% from the average session volume of 6,955,052 shares. The stock had previously closed at $7.73.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bank of America started coverage on shares of UP Fintech in a research note on Monday, March 17th. They issued a “buy” rating for the company. Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price for the company.

UP Fintech Trading Up 5.0 %

The business’s 50-day moving average price is $7.66 and its 200 day moving average price is $7.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 40.63 and a beta of 0.65.

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

Institutional Investors Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of UP Fintech by 527.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $30,000 after purchasing an additional 3,901 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of UP Fintech in the fourth quarter valued at $34,000. Deutsche Bank AG bought a new stake in shares of UP Fintech in the fourth quarter valued at about $38,000. GAMMA Investing LLC boosted its position in shares of UP Fintech by 51.5% in the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock valued at $59,000 after acquiring an additional 3,105 shares during the period. Finally, Tairen Capital Ltd bought a new stake in shares of UP Fintech in the fourth quarter valued at about $68,000. 9.03% of the stock is 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.