UP Fintech (NASDAQ:TIGR) Shares Gap Up – Still a Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) shares gapped up prior to trading on Friday . The stock had previously closed at $7.18, but opened at $7.90. UP Fintech shares last traded at $7.86, with a volume of 11,217,347 shares changing hands.

Analyst Ratings Changes

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

UP Fintech Trading Up 0.6 %

The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $5.11 and its 200-day moving average price is $4.42. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 31.39 and a beta of 0.93.

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

Institutional Investors Weigh In On UP Fintech

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIGR. Blue Trust Inc. lifted its stake in shares of UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after buying an additional 9,748 shares in the last quarter. GAMMA Investing LLC raised its holdings in UP Fintech by 53.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after acquiring an additional 2,104 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in UP Fintech in the 2nd quarter worth approximately $129,000. Marshall Wace LLP boosted its holdings in shares of UP Fintech by 52.8% during the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after purchasing an additional 384,213 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of UP Fintech by 162.7% in the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after purchasing an additional 57,257 shares in the last quarter. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.