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

Key Points

• UP Fintech's stock (NASDAQ:TIGR) gapped up from $10.10 to $10.70 before closing at $10.63, indicating strong market interest with over 2.2 million shares traded.
• Citigroup upgraded UP Fintech from "neutral" to "buy," raising its target price from $9.50 to $14.00, reflecting positive sentiment among analysts.
• Significant institutional investment was observed, with firms like Marshall Wace LLP and Two Sigma Investments increasing their stakes by over 490% and 800%, respectively.

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.10, but opened at $10.70. UP Fintech shares last traded at $10.63, with a volume of 2,225,143 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TIGR. Citigroup upgraded shares of UP Fintech from a "neutral" rating to a "buy" rating and increased their price target for the stock from $9.50 to $14.00 in a research note on Tuesday, July 22nd. Wall Street Zen downgraded shares of UP Fintech from a "buy" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.33.

UP Fintech Price Performance

The company has a market capitalization of $1.94 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 0.82 and a beta of 0.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.23. The firm's 50 day simple moving average is $9.64 and its 200 day simple moving average is $8.60.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly earnings data on Friday, May 30th. The company reported $0.20 earnings per share for the quarter. The company had revenue of $122.61 million during the quarter. UP Fintech had a net margin of 18.11% and a return on equity of 13.19%.

Institutional Investors Weigh In On UP Fintech

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its holdings in shares of UP Fintech by 22.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company's stock worth $62,000 after acquiring an additional 1,179 shares during the period. Cetera Investment Advisers boosted its stake in shares of UP Fintech by 2.8% in the 2nd quarter. Cetera Investment Advisers now owns 50,173 shares of the company's stock valued at $484,000 after buying an additional 1,385 shares during the period. GAMMA Investing LLC lifted its stake in UP Fintech by 17.4% during the first quarter. GAMMA Investing LLC now owns 10,728 shares of the company's stock worth $92,000 after purchasing an additional 1,592 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in UP Fintech by 14.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,517 shares of the company's stock worth $130,000 after buying an additional 1,676 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in UP Fintech by 15.3% during the second quarter. Asset Management One Co. Ltd. now owns 13,749 shares of the company's stock worth $133,000 after buying an additional 1,826 shares during the period. Hedge funds and other institutional investors own 9.03% of the company's stock.

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.