UP Fintech (NASDAQ:TIGR) Shares Gap Up - Here's Why

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $7.18, but opened at $7.90. UP Fintech shares last traded at $7.86, with a volume of 11,217,347 shares.

Wall Street Analyst Weigh In

Separately, Citigroup reduced their price target on shares of UP Fintech from $6.49 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, September 3rd.

UP Fintech Trading Up 0.6 %

The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 31.39 and a beta of 0.93. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The business's 50 day moving average price is $5.11 and its two-hundred day moving average price is $4.41.

UP Fintech (NASDAQ:TIGR - Get Free Report) last issued its earnings results on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). The company had revenue of $87.44 million during the quarter. UP Fintech had a net margin of 8.59% and a return on equity of 5.35%.

Hedge Funds Weigh In On UP Fintech

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company's stock worth $32,000 after purchasing an additional 2,104 shares during the last quarter. Headlands Technologies LLC bought a new stake in UP Fintech during the 1st quarter worth approximately $34,000. Blue Trust Inc. grew its holdings in UP Fintech by 198.6% during 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. SG Americas Securities LLC acquired a new position in UP Fintech in the 2nd quarter valued at approximately $78,000. Finally, Virtu Financial LLC raised 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 acquiring an additional 10,329 shares during the last quarter. Institutional investors and hedge funds 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.