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

UP Fintech Holding Limited (NASDAQ:TIGR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.50, but opened at $5.73. UP Fintech shares last traded at $5.73, with a volume of 162,768 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TIGR. Citigroup reiterated a “sell” rating and issued a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target on the stock in a report on Thursday, October 24th.

UP Fintech Stock Up 4.9 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.07 billion, a P/E ratio of 28.85 and a beta of 0.91. The stock’s fifty day moving average price is $6.50 and its 200 day moving average price is $4.94.

UP Fintech (NASDAQ:TIGR) last issued its quarterly 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). The firm had revenue of $87.44 million for the quarter. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Institutional Trading of UP Fintech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP lifted its holdings 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 acquiring an additional 384,213 shares during the last quarter. Sparta 24 Ltd. boosted its position in UP Fintech by 113.7% during the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after buying an additional 1,675,296 shares during the period. Virtu Financial LLC grew its stake in shares of UP Fintech by 61.3% during the first quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock valued at $93,000 after buying an additional 10,329 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after buying an additional 2,104 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of UP Fintech in the 2nd quarter valued at about $129,000. 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 services.