UP Fintech (NASDAQ:TIGR) Shares Gap Up - Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $9.12, but opened at $9.56. UP Fintech shares last traded at $10.20, with a volume of 2,992,743 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TIGR. Citigroup raised UP Fintech from a "sell" rating to a "neutral" rating and upped their price target for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th. Wall Street Zen upgraded UP Fintech from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, Bank of America started coverage on UP Fintech in a report on Monday, March 17th. They set a "buy" rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.83.

UP Fintech Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $8.85 and a 200-day moving average of $7.89. The stock has a market capitalization of $1.85 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in UP Fintech by 17.4% during the 1st quarter. GAMMA Investing LLC now owns 10,728 shares of the company's stock valued at $92,000 after purchasing an additional 1,592 shares during the last quarter. Invesco Ltd. grew its position in shares of UP Fintech by 2.2% in the first quarter. Invesco Ltd. now owns 112,646 shares of the company's stock valued at $968,000 after purchasing an additional 2,458 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of UP Fintech by 527.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock valued at $30,000 after purchasing an additional 3,901 shares in the last quarter. Townsquare Capital LLC grew its position in UP Fintech by 4.5% in the first quarter. Townsquare Capital LLC now owns 94,480 shares of the company's stock worth $812,000 after acquiring an additional 4,107 shares during the period. Finally, Burns Matteson Capital Management LLC lifted its stake in UP Fintech by 29.8% during the first quarter. Burns Matteson Capital Management LLC now owns 18,320 shares of the company's stock worth $157,000 after purchasing an additional 4,201 shares in the last quarter. 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.

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