UP Fintech (NASDAQ:TIGR) Shares Gap Up – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR) shares gapped up before the market opened on Friday . The stock had previously closed at $7.01, but opened at $7.36. UP Fintech shares last traded at $7.52, with a volume of 2,045,684 shares.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price for the company.

UP Fintech Stock Performance

The stock’s 50-day moving average is $7.17 and its 200-day moving average is $6.46. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 38.25 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Institutional Trading of UP Fintech

Large investors have recently bought and sold shares of the company. Marshall Wace LLP boosted its stake in shares of UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after buying an additional 4,654,351 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of UP Fintech by 808.5% during the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock valued at $11,743,000 after buying an additional 1,617,702 shares during the last quarter. Millennium Management LLC boosted its stake in shares of UP Fintech by 2,631.2% during the 4th quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock valued at $10,471,000 after buying an additional 1,561,617 shares during the last quarter. Contrarius Group Holdings Ltd bought a new position in UP Fintech during the fourth quarter worth $8,105,000. Finally, Two Sigma Advisers LP lifted its stake in UP Fintech by 841.6% during the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after purchasing an additional 794,500 shares during 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.