UP Fintech Holding Limited (NASDAQ:TIGR) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• UP Fintech Holding Limited has received a consensus recommendation of "Buy" from five brokerages, with an average 12-month price target of $10.33.
• Recent upgrades from analysts include Citigroup raising their price target from $9.50 to $14.00, reflecting positive sentiment towards the company's stock.
• Several large investors significantly increased their positions in UP Fintech during the second quarter, indicating heightened institutional interest in the stock.

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) has been assigned a consensus recommendation of "Buy" from the five brokerages that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $10.3267.

A number of analysts have recently commented on the company. Wall Street Zen upgraded UP Fintech from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Jefferies Financial Group assumed coverage on UP Fintech in a research report on Monday. They set a "buy" rating for the company. Finally, Citigroup upgraded UP Fintech from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.50 to $14.00 in a research report on Tuesday, July 22nd.

UP Fintech Trading Down 3.8%

Shares of UP Fintech stock opened at $10.16 on Monday. The firm has a market cap of $1.88 billion, a P/E ratio of 15.63, a P/E/G ratio of 0.66 and a beta of 0.64. UP Fintech has a 12 month low of $4.55 and a 12 month high of $14.48. The stock's fifty day moving average price is $10.97 and its 200-day moving average price is $9.43.

Institutional Trading of UP Fintech

Several large investors have recently made changes to their positions in TIGR. Sparta 24 Ltd. increased its position in shares of UP Fintech by 71.2% during the second quarter. Sparta 24 Ltd. now owns 6,260,946 shares of the company's stock worth $60,418,000 after purchasing an additional 2,603,842 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in UP Fintech during the second quarter worth $24,456,000. Arrowstreet Capital Limited Partnership boosted its stake in UP Fintech by 282.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company's stock worth $31,335,000 after buying an additional 2,397,261 shares during the last quarter. Jump Financial LLC acquired a new position in UP Fintech during the second quarter worth $12,993,000. Finally, Bank of America Corp DE boosted its stake in UP Fintech by 122.6% during the second quarter. Bank of America Corp DE now owns 2,282,337 shares of the company's stock worth $22,025,000 after buying an additional 1,257,251 shares during the last quarter. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

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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