UP Fintech (NASDAQ:TIGR) Shares Gap Up – Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.49, but opened at $6.83. UP Fintech shares last traded at $6.70, with a volume of 3,944,721 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup reiterated a “sell” rating and issued a $5.50 target price (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a research note on Thursday, October 24th.

UP Fintech Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $1.22 billion, a PE ratio of 38.94 and a beta of 0.91. The business’s 50 day moving average is $5.75 and its two-hundred day moving average is $4.69.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company 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%.

Hedge Funds Weigh In On UP Fintech

A number of hedge funds and other institutional investors have recently modified their holdings of TIGR. GSA Capital Partners LLP lifted its position in UP Fintech by 10.1% in the 3rd quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock worth $3,610,000 after buying an additional 62,145 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after acquiring an additional 4,377 shares in the last quarter. Sparta 24 Ltd. lifted its holdings in shares of UP Fintech by 113.7% in the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after acquiring an additional 1,675,296 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after acquiring an additional 9,748 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 2,104 shares in the last quarter. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

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.