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

UP Fintech Holding Limited (NASDAQ:TIGRGet Free Report) gapped up prior to trading 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 traded.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price on the stock.

View Our Latest Analysis on UP Fintech

UP Fintech Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day simple moving average of $7.17 and a two-hundred day simple moving average of $6.46. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 38.25 and a beta of 0.87.

Institutional Investors Weigh In On UP Fintech

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in shares of UP Fintech by 527.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $30,000 after purchasing an additional 3,901 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of UP Fintech during the fourth quarter valued at $34,000. Deutsche Bank AG acquired a new position in UP Fintech during the fourth quarter worth about $38,000. GAMMA Investing LLC grew its holdings in UP Fintech by 51.5% during the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock worth $59,000 after acquiring an additional 3,105 shares during the period. Finally, Tairen Capital Ltd acquired a new position in UP Fintech during the fourth quarter worth about $68,000. 9.03% of the stock is owned by institutional investors and hedge funds.

UP Fintech Company Profile

(Get Free Report)

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.

Further Reading

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