UP Fintech (NASDAQ:TIGR) Shares Up 5.2% - What's Next?

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $8.89 and last traded at $8.85. 2,191,069 shares changed hands during trading, a decline of 69% from the average session volume of 7,181,430 shares. The stock had previously closed at $8.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of UP Fintech in a research note on Monday, March 17th. They set a "buy" rating on the stock. Wall Street Zen upgraded UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, Citigroup upgraded UP Fintech from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $5.80 to $9.50 in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.83.

UP Fintech Stock Performance

The stock has a market capitalization of $1.53 billion, a PE ratio of 41.55 and a beta of 0.64. The firm's fifty day moving average is $8.24 and its 200-day moving average is $7.61. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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

Institutional Trading of UP Fintech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in UP Fintech in the 4th quarter valued at about $796,000. Jump Financial LLC purchased a new stake in UP Fintech during the fourth quarter worth about $2,069,000. Nkcfo LLC purchased a new stake in UP Fintech during the fourth quarter worth about $323,000. Northern Trust Corp increased its stake in UP Fintech by 53.8% during the fourth quarter. Northern Trust Corp now owns 180,679 shares of the company's stock worth $1,167,000 after purchasing an additional 63,232 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in UP Fintech during the fourth quarter worth about $213,000. 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.