UP Fintech (NASDAQ:TIGR) Rating Increased to Buy at Citigroup

UP Fintech (NASDAQ:TIGR - Get Free Report) was upgraded by research analysts at Citigroup from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat reports. The firm currently has a $14.00 price target on the stock, up from their previous price target of $9.50. Citigroup's price objective would indicate a potential upside of 31.76% from the stock's previous close.

Separately, Wall Street Zen raised UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, UP Fintech presently has a consensus rating of "Buy" and an average target price of $10.33.

UP Fintech Price Performance

TIGR traded down $0.21 during trading on Tuesday, reaching $10.63. 2,270,789 shares of the company were exchanged, compared to its average volume of 6,205,557. The company's 50-day moving average is $9.17 and its two-hundred day moving average is $8.19. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.03 and a beta of 0.67. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.23. UP Fintech has a 12-month low of $3.36 and a 12-month high of $14.48.

UP Fintech (NASDAQ:TIGR - Get Free Report) last issued its quarterly earnings data on Friday, May 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The business had revenue of $122.61 million for the quarter. UP Fintech had a return on equity of 13.19% and a net margin of 18.11%.

Institutional Trading of UP Fintech

Hedge funds have recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new position in UP Fintech in the 1st quarter worth approximately $575,000. Point72 Asset Management L.P. bought a new position in shares of UP Fintech during the fourth quarter valued at $796,000. Jump Financial LLC bought a new position in UP Fintech in the fourth quarter valued at about $2,069,000. Northern Trust Corp lifted its holdings in UP Fintech by 53.8% in the fourth quarter. Northern Trust Corp now owns 180,679 shares of the company's stock valued at $1,167,000 after acquiring an additional 63,232 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of UP Fintech by 908.7% in the first quarter. GAMMA Investing LLC now owns 92,154 shares of the company's stock worth $792,000 after buying an additional 83,018 shares during the period. Institutional investors own 9.03% of the company's stock.

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.