Jefferies Financial Group Initiates Coverage on UP Fintech (NASDAQ:TIGR)

Key Points

• Jefferies Financial Group has upgraded UP Fintech (NASDAQ:TIGR) to a "strong-buy" rating, indicating increased confidence in the stock's potential.
• Citigroup also upgraded UP Fintech from "neutral" to "buy" and raised its price target from $9.50 to $14.00, reflecting positive sentiment among analysts.
• UP Fintech now boasts a consensus rating of "Buy" with an average target price of $10.75, following positive ratings from multiple research firms.

Equities researchers at Jefferies Financial Group initiated coverage on shares of UP Fintech (NASDAQ:TIGR - Get Free Report) in a research note issued to investors on Monday, Marketbeat reports. The firm set a "buy" rating on the stock.

Several other equities analysts have also issued reports on TIGR. Wall Street Zen raised shares of UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Citigroup raised shares of UP Fintech from a "neutral" rating to a "buy" rating and upped their target price for the company from $9.50 to $14.00 in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $10.75.

UP Fintech Stock Down 1.4%

TIGR stock opened at $10.71 on Monday. The company has a market cap of $1.98 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.64. UP Fintech has a twelve month low of $5.36 and a twelve month high of $14.48. The business's 50-day simple moving average is $10.97 and its 200 day simple moving average is $9.46.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIGR. Harbour Capital Advisors LLC purchased a new position in UP Fintech during the first quarter worth about $575,000. Acadian Asset Management LLC increased its holdings in UP Fintech by 818.7% during the 1st quarter. Acadian Asset Management LLC now owns 126,596 shares of the company's stock worth $1,085,000 after acquiring an additional 112,816 shares during the period. Canada Pension Plan Investment Board bought a new stake in UP Fintech during the 1st quarter worth approximately $9,467,000. Sparta 24 Ltd. increased its holdings in shares of UP Fintech by 48.0% in the 1st quarter. Sparta 24 Ltd. now owns 3,657,104 shares of the company's stock worth $31,415,000 after buying an additional 1,186,137 shares during the last quarter. Finally, Eschler Asset Management LLP purchased a new stake in shares of UP Fintech in the 1st quarter valued at $1,031,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

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.