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

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

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

UP Fintech Stock Down 2.0%

The stock has a market cap of $1.85 billion, a PE ratio of 22.31, a P/E/G ratio of 0.93 and a beta of 0.67. The business has a 50 day moving average of $8.98 and a 200-day moving average of $7.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.23.

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

Institutional Inflows and Outflows

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