UP Fintech (NASDAQ:TIGR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded UP Fintech from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with four buys, one hold and one sell and a $8.16 average price target.
• UP Fintech shares opened at $5.05, near their 50-day average of $4.79 and below the 200-day average of $5.92; the stock has traded between $4.00 and $13.42 over the past year.
• Institutional investors have increased exposure, including Renaissance Technologies and Jupiter Asset Management, while insiders own 50.90% of the company; director Jian Liu recently sold 9,333 shares.

UP Fintech (NASDAQ:TIGR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued research reports about the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $7.70 price objective on shares of UP Fintech in a research report on Thursday. Citigroup reduced their target price on shares of UP Fintech to $7.10 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Finally, Bank of America restated a "buy" rating on shares of UP Fintech in a research note on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, UP Fintech currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.16.

UP Fintech Trading Down 0.2%

Shares of NASDAQ TIGR opened at $5.05 on Friday. The firm has a 50 day moving average price of $4.79 and a two-hundred day moving average price of $5.92. The stock has a market cap of $957.99 million, a P/E ratio of 8.56 and a beta of 0.48. UP Fintech has a 52-week low of $4.00 and a 52-week high of $13.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.10 and a current ratio of 1.10.

Insider Transactions at UP Fintech

In related news, Director Jian Liu sold 9,333 shares of the business's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $4.60, for a total value of $42,931.80. Following the sale, the director directly owned 62,665 shares in the company, valued at approximately $288,259. The trade was a 12.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 50.90% of the company's stock.

Hedge Funds Weigh In On UP Fintech

Several large investors have recently modified their holdings of the business. Sparta 24 Ltd. lifted its stake in shares of UP Fintech by 9.1% during the 1st quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company's stock valued at $36,592,000 after buying an additional 482,607 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in UP Fintech by 129.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company's stock worth $11,227,000 after buying an additional 1,006,566 shares during the period. Capital International Investors purchased a new position in UP Fintech in the 4th quarter valued at approximately $47,855,000. Jupiter Asset Management Ltd. grew its stake in UP Fintech by 157.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company's stock valued at $40,307,000 after buying an additional 2,577,459 shares in the last quarter. Finally, Contrarius Group Holdings Ltd bought a new stake in UP Fintech during the 4th quarter valued at $10,243,000. Hedge funds and other institutional investors own 9.03% of the company's stock.

UP Fintech Company Profile

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.

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