UP Fintech (NASDAQ:TIGR) Shares Gap Up to $3.79

UP Fintech Holding Limited (NASDAQ:TIGR) gapped up prior to trading on Tuesday . The stock had previously closed at $3.79, but opened at $4.14. UP Fintech shares last traded at $4.14, with a volume of 721,206 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price target on UP Fintech from $6.49 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd.

UP Fintech Stock Up 8.2 %

The company’s 50-day simple moving average is $3.82 and its two-hundred day simple moving average is $3.96. The firm has a market cap of $685.27 million, a PE ratio of 17.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15.

UP Fintech (NASDAQ:TIGR) last posted its earnings results on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). UP Fintech had a return on equity of 5.35% and a net margin of 8.59%. The business had revenue of $87.44 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sparta 24 Ltd. bought a new stake in UP Fintech during the second quarter worth about $6,186,000. Russell Investments Group Ltd. boosted its position in shares of UP Fintech by 6,367.8% in the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock worth $1,560,000 after purchasing an additional 446,572 shares in the last quarter. Marshall Wace LLP grew its stake in shares of UP Fintech by 52.8% in the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after buying an additional 384,213 shares during the last quarter. Renaissance Technologies LLC increased its position in UP Fintech by 162.7% during the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after buying an additional 57,257 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in UP Fintech by 19.8% during the first quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock valued at $967,000 after buying an additional 46,394 shares during the last quarter. Hedge funds and other 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; and account management services.