UP Fintech (NASDAQ:TIGR) Shares Gap Up – Time to Buy?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) gapped up before the market opened on Friday . The stock had previously closed at $8.47, but opened at $9.20. UP Fintech shares last traded at $8.76, with a volume of 6,746,949 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective for the company. Citigroup restated a “sell” rating and set a $5.50 price target (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. Finally, China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price for the company in a research report on Thursday, October 24th.

UP Fintech Price Performance

The firm’s 50-day moving average is $6.92 and its 200-day moving average is $5.89. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.59 billion, a PE ratio of 43.12 and a beta of 0.86.

Institutional Trading of UP Fintech

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in shares of UP Fintech by 492.4% during the fourth quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after acquiring an additional 4,654,351 shares during the last quarter. Sparta 24 Ltd. boosted its stake in shares of UP Fintech by 113.7% during the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after purchasing an additional 1,675,296 shares during the period. Contrarius Group Holdings Ltd purchased a new position in shares of UP Fintech during the 4th quarter worth about $8,105,000. Dorsey Wright & Associates purchased a new position in shares of UP Fintech during the 4th quarter worth about $2,579,000. Finally, Jump Financial LLC purchased a new position in shares of UP Fintech during the 4th quarter worth about $2,069,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

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.