Citigroup Upgrades UP Fintech (NASDAQ:TIGR) to "Buy"

UP Fintech (NASDAQ:TIGR - Get Free Report) was upgraded by analysts at Citigroup from a "neutral" rating to a "buy" rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a $14.00 price target on the stock. Citigroup's target price suggests a potential upside of 34.36% from the company's previous close.

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

UP Fintech Stock Down 1.5%

TIGR stock opened at $10.42 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 0.96 and a beta of 0.67. The business's fifty day moving average price is $9.08 and its two-hundred day moving average price is $8.09. UP Fintech has a fifty-two week low of $3.36 and a fifty-two week high of $14.48.

UP Fintech (NASDAQ:TIGR - Get Free Report) last posted its quarterly earnings data on Friday, May 30th. The company reported $0.20 earnings per share for the quarter. The firm 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

A number of hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of UP Fintech in the fourth quarter worth approximately $213,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of UP Fintech in the fourth quarter worth approximately $457,000. Dorsey Wright & Associates acquired a new position in shares of UP Fintech in the fourth quarter worth approximately $2,579,000. Headlands Technologies LLC lifted its stake in shares of UP Fintech by 741.0% in the fourth quarter. Headlands Technologies LLC now owns 61,427 shares of the company's stock worth $397,000 after acquiring an additional 54,123 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of UP Fintech by 49.9% in the fourth quarter. Geode Capital Management LLC now owns 122,644 shares of the company's stock worth $792,000 after acquiring an additional 40,802 shares during the period. 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.

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