UP Fintech (NASDAQ:TIGR) Shares Gap Up - What's Next?

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.54, but opened at $9.04. UP Fintech shares last traded at $8.84, with a volume of 1,133,342 shares trading hands.

Analyst Upgrades and Downgrades

TIGR has been the topic of a number of recent analyst reports. Wall Street Zen raised UP Fintech from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup upgraded UP Fintech from a "sell" rating to a "neutral" rating and increased their target price for the stock from $5.80 to $9.50 in a research report on Wednesday, March 19th. Finally, Bank of America assumed coverage on UP Fintech in a report on Monday, March 17th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.83.

UP Fintech Trading Up 3.1%

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 41.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The business has a fifty day moving average price of $8.19 and a 200 day moving average price of $7.44.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly earnings data on Friday, May 30th. The company reported $0.20 EPS for the quarter. The company had revenue of $122.61 million for the quarter. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Institutional Investors Weigh In On UP Fintech

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP lifted its holdings in shares of UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company's stock valued at $36,173,000 after acquiring an additional 4,654,351 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company's stock worth $11,743,000 after purchasing an additional 1,617,702 shares in the last quarter. Millennium Management LLC boosted its position in shares of UP Fintech by 2,631.2% in the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company's stock worth $10,471,000 after buying an additional 1,561,617 shares during the period. Contrarius Group Holdings Ltd acquired a new stake in shares of UP Fintech in the fourth quarter valued at about $8,105,000. Finally, Sparta 24 Ltd. raised its holdings in shares of UP Fintech by 48.0% during the 1st quarter. Sparta 24 Ltd. now owns 3,657,104 shares of the company's stock valued at $31,415,000 after buying an additional 1,186,137 shares during the period. 9.03% of the stock is currently 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.