Wall Street Zen Downgrades UP Fintech (NASDAQ:TIGR) to Hold

Key Points

• UP Fintech (NASDAQ:TIGR) was downgraded from a "buy" to a "hold" by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• Despite the downgrade, the stock has been rated as a "buy" by multiple research firms, including Citigroup and Jefferies Financial Group, with target prices ranging from $12.00 to $14.00.
• The current average rating for UP Fintech is "Moderate Buy" with an overall consensus price target of $12.13.

UP Fintech (NASDAQ:TIGR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other research firms have also issued reports on TIGR. Weiss Ratings reissued a "hold (c)" rating on shares of UP Fintech in a report on Friday. Citigroup raised UP Fintech from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.50 to $14.00 in a report on Tuesday, July 22nd. Jefferies Financial Group assumed coverage on UP Fintech in a report on Monday, September 29th. They set a "buy" rating and a $12.00 target price on the stock. Finally, UBS Group assumed coverage on UP Fintech in a research report on Thursday. They set a "buy" rating and a $13.10 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.13.

UP Fintech Price Performance

Shares of NASDAQ TIGR opened at $10.28 on Friday. The stock's fifty day moving average price is $10.88 and its two-hundred day moving average price is $9.62. UP Fintech has a one year low of $5.36 and a one year high of $13.55. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 0.66 and a beta of 0.55.

Institutional Trading of UP Fintech

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of UP Fintech during the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of UP Fintech by 205.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 5,094 shares of the company's stock valued at $49,000 after purchasing an additional 3,427 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of UP Fintech during the second quarter valued at about $52,000. SBI Securities Co. Ltd. boosted its stake in shares of UP Fintech by 22.7% during the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company's stock valued at $62,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of UP Fintech during the third quarter valued at about $66,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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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