UP Fintech (NASDAQ:TIGR) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded UP Fintech to a “hold” rating, while analysts’ overall consensus remains “Hold,” with four Buy, two Hold and one Sell rating and an average price target of $8.16.
• TIGR shares opened at $4.71, near the lower end of their 52-week range of $4.00 to $11.55. The company had a market capitalization of approximately $893.5 million and a P/E ratio of 7.98.
• Institutional investors own 9.03% of UP Fintech, with several hedge funds increasing their stakes; however, director Jian Liu recently sold 9,333 shares worth about $42,932.

UP Fintech (NASDAQ:TIGR - Get Free Report) was upgraded by analysts at Zacks Research to a "hold" rating in a report released on Monday, Zacks reports.

TIGR has been the topic of several other research reports. Bank of America reiterated a "buy" rating on shares of UP Fintech in a report on Monday, June 1st. Citigroup decreased their price objective on shares of UP Fintech to $7.10 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Wall Street Zen raised shares of UP Fintech from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UP Fintech in a research note on Monday, August 31st. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $7.70 price target on shares of UP Fintech in a research report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.16.

UP Fintech Price Performance

Shares of TIGR stock opened at $4.71 on Monday. The firm has a market cap of $893.49 million, a P/E ratio of 7.98, a P/E/G ratio of 0.32 and a beta of 0.51. UP Fintech has a fifty-two week low of $4.00 and a fifty-two week high of $11.55. The business's 50 day moving average price is $4.87 and its 200-day moving average price is $5.64. 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 Buying and Selling at UP Fintech

In related news, Director Jian Liu sold 9,333 shares of the company's stock in a transaction on 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 of the company's stock, valued at $288,259. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On UP Fintech

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

UP Fintech Company Profile

UP Fintech Holding Limited, operating under the Tiger Brokers brand, is an online brokerage and financial services company focused on serving investors through digital trading platforms. The company provides access to securities markets and offers tools for trading stocks, exchange-traded funds, options, futures and other investment products, subject to the regulations of the markets in which its subsidiaries operate.

Tiger Brokers' platforms are designed to support individual and institutional investors with services that may include brokerage accounts, margin financing, market data, research, portfolio management tools and new-issue or initial public offering subscription services.

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