Wall Street Zen Upgrades UP Fintech (NASDAQ:TIGR) to "Buy"

Key Points

• UP Fintech (NASDAQ:TIGR) received a rating upgrade from Wall Street Zen, moving from "hold" to "buy" on Saturday.
• Citigroup also upgraded the stock from "neutral" to "buy," increasing the price target from $9.50 to $14.00.
• The company reported $0.20 EPS for its last quarterly results, with a revenue of $122.61 million and a net margin of 24.18%.

UP Fintech (NASDAQ:TIGR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Separately, Citigroup upgraded UP Fintech from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $9.50 to $14.00 in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, UP Fintech presently has an average rating of "Buy" and a consensus target price of $10.33.

UP Fintech Stock Up 4.1%

Shares of NASDAQ:TIGR traded up $0.50 during midday trading on Friday, hitting $12.82. 3,270,857 shares of the stock traded hands, compared to its average volume of 6,195,195. The business's 50 day moving average is $10.47 and its two-hundred day moving average is $8.95. The stock has a market capitalization of $2.37 billion, a PE ratio of 19.73, a P/E/G ratio of 0.82 and a beta of 0.64. UP Fintech has a one year low of $3.39 and a one year high of $14.48.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Sparta 24 Ltd. grew its holdings in UP Fintech by 71.2% in 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 during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of UP Fintech by 282.1% in the 2nd 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. Jupiter Asset Management Ltd. bought a new position in UP Fintech during the 2nd quarter valued at approximately $24,456,000. Millennium Management LLC raised its stake in UP Fintech by 48.0% during the first quarter. Millennium Management LLC now owns 2,398,744 shares of the company's stock valued at $20,605,000 after buying an additional 777,776 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in UP Fintech by 122.6% in the second quarter. Bank of America Corp DE now owns 2,282,337 shares of the company's stock worth $22,025,000 after acquiring an additional 1,257,251 shares in the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.

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.