UP Fintech (NASDAQ:TIGR) Trading 5.4% Higher – Still a Buy?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) shot up 5.4% during mid-day trading on Tuesday . The company traded as high as $9.59 and last traded at $9.5850. 2,165,344 shares changed hands during trading, a decline of 61% from the average session volume of 5,556,268 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TIGR shares. Citigroup upped their price objective on shares of UP Fintech to $17.50 and gave the stock a “buy” rating in a research report on Friday, December 5th. UBS Group started coverage on UP Fintech in a research note on Thursday, October 23rd. They issued a “buy” rating and a $13.10 price target on the stock. Wall Street Zen lowered shares of UP Fintech from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Jefferies Financial Group began coverage on UP Fintech in a report on Monday, September 29th. They set a “buy” rating and a $12.00 target price on the stock. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $4.73 price objective on shares of UP Fintech in a research note on Friday, December 5th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.35.

UP Fintech Stock Up 5.6%

The company has a market cap of $1.77 billion, a PE ratio of 11.56 and a beta of 0.37. The stock has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $10.02.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.21 by $0.08. UP Fintech had a net margin of 27.42% and a return on equity of 21.09%. The firm had revenue of $175.16 million for the quarter, compared to analyst estimates of $132.76 million. During the same period in the prior year, the business posted $0.11 EPS.

Institutional Trading of UP Fintech

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its position in UP Fintech by 22.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock valued at $62,000 after purchasing an additional 1,179 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in UP Fintech by 11.8% in the third quarter. Jones Financial Companies Lllp now owns 12,906 shares of the company’s stock worth $131,000 after acquiring an additional 1,364 shares during the last quarter. Cetera Investment Advisers increased its position in shares of UP Fintech by 2.8% in the 2nd quarter. Cetera Investment Advisers now owns 50,173 shares of the company’s stock valued at $484,000 after purchasing an additional 1,385 shares during the last quarter. Shilanski & Associates Inc. raised its holdings in shares of UP Fintech by 5.0% in the 3rd quarter. Shilanski & Associates Inc. now owns 31,033 shares of the company’s stock valued at $331,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of UP Fintech by 14.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,517 shares of the company’s stock worth $130,000 after purchasing an additional 1,676 shares during the last quarter. 9.03% of the stock is currently owned by institutional investors and hedge funds.

About UP Fintech

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.