Envestnet Asset Management Inc. Invests $1.22 Million in UP Fintech Holding Limited (NASDAQ:TIGR)

Envestnet Asset Management Inc. purchased a new position in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 188,754 shares of the company's stock, valued at approximately $1,219,000. Envestnet Asset Management Inc. owned 0.10% of UP Fintech at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of UP Fintech in the 4th quarter worth approximately $34,000. GAMMA Investing LLC lifted its stake in shares of UP Fintech by 51.5% in the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock worth $59,000 after acquiring an additional 3,105 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of UP Fintech in the 4th quarter worth approximately $91,000. Alliance Wealth Advisors LLC UT acquired a new stake in shares of UP Fintech in the 4th quarter worth approximately $92,000. Finally, Truist Financial Corp acquired a new stake in shares of UP Fintech in the 4th quarter worth approximately $116,000. 9.03% of the stock is owned by institutional investors and hedge funds.

UP Fintech Stock Up 0.1 %

TIGR stock opened at $8.25 on Thursday. UP Fintech Holding Limited has a 12 month low of $3.36 and a 12 month high of $14.48. The firm has a market cap of $1.52 billion, a PE ratio of 41.25 and a beta of 0.65. The firm has a 50 day simple moving average of $7.66 and a 200 day simple moving average of $7.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.06. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The business had revenue of $124.10 million for the quarter, compared to analyst estimates of $73.60 million.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup raised shares of UP Fintech from a "sell" rating to a "neutral" rating and upped their price target for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th. Bank of America began coverage on shares of UP Fintech in a research note on Monday, March 17th. They set a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research note on Thursday, January 2nd. They set a "buy" rating and a $9.40 target price for the company.

UP Fintech Company Profile

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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