Weiss Ratings Reaffirms "Hold (C)" Rating for UP Fintech (NASDAQ:TIGR)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for UP Fintech (NASDAQ:TIGR), while other analysts have upgraded the stock to "Buy" ratings with varying price targets.
• UP Fintech's stock traded at $10.46 on Wednesday, with a market capitalization of $1.93 billion and a consensus rating of "Moderate Buy".
• Institutional investors have been active in the market, with several firms increasing their stakes in UP Fintech during the second quarter, reflecting growing confidence in the company's prospects.

UP Fintech (NASDAQ:TIGR - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of UP Fintech from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Jefferies Financial Group started coverage on UP Fintech in a report on Monday, September 29th. They set a "buy" rating and a $12.00 target price for the company. Finally, Citigroup raised UP Fintech from a "neutral" rating to a "buy" rating and upped their price target for the stock from $9.50 to $14.00 in a research note on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, UP Fintech currently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

UP Fintech Stock Performance

UP Fintech stock traded up $0.31 during trading hours on Wednesday, reaching $10.46. 2,824,105 shares of the company's stock traded hands, compared to its average volume of 5,966,075. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 0.66 and a beta of 0.55. The firm's 50 day moving average is $10.97 and its 200-day moving average is $9.51. UP Fintech has a fifty-two week low of $5.36 and a fifty-two week high of $13.55.

Institutional Trading of UP Fintech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of UP Fintech during the second quarter valued at $33,000. Caitong International Asset Management Co. Ltd grew its stake in shares of UP Fintech by 205.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 5,094 shares of the company's stock valued at $49,000 after buying an additional 3,427 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in UP Fintech during the second quarter worth approximately $52,000. SBI Securities Co. Ltd. boosted its position in shares of UP Fintech by 22.7% in the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company's stock valued at $62,000 after acquiring an additional 1,179 shares during the period. Finally, Bingham Private Wealth LLC acquired a new position in UP Fintech during the first quarter worth $90,000. Institutional investors own 9.03% of the company's stock.

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.

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