UP Fintech (NASDAQ:TIGR) Rating Increased to Neutral at Citigroup

Citigroup upgraded shares of UP Fintech (NASDAQ:TIGR - Free Report) from a sell rating to a neutral rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $9.50 price target on the stock, up from their prior price target of $5.80.

Several other equities analysts also recently issued reports on TIGR. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a report on Thursday, January 2nd. They set a "buy" rating and a $9.40 price objective on the stock. Bank of America initiated coverage on shares of UP Fintech in a report on Monday, March 17th. They set a "buy" rating on the stock.

UP Fintech Stock Performance

Shares of TIGR remained flat at $8.86 during trading hours on Wednesday. 6,485,476 shares of the stock were exchanged, compared to its average volume of 6,405,448. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 44.30 and a beta of 0.87. UP Fintech has a 1 year low of $3.10 and a 1 year high of $14.48. 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 50-day moving average of $7.45 and a two-hundred day moving average of $6.66.

UP Fintech (NASDAQ:TIGR - Get Free Report) last issued its earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.06. The firm had revenue of $124.10 million during the quarter, compared to analyst estimates of $73.60 million. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

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Institutional Investors Weigh In On UP Fintech

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