China Renaissance Upgrades UP Fintech (NASDAQ:TIGR) to "Buy"

China Renaissance upgraded shares of UP Fintech (NASDAQ:TIGR - Free Report) from a hold rating to a buy rating in a research report report published on Thursday, MarketBeat reports. China Renaissance currently has $7.58 price target on the stock.

Separately, Citigroup restated a "sell" rating and set a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research note on Tuesday.

UP Fintech Price Performance

UP Fintech stock traded up $0.09 during mid-day trading on Thursday, reaching $6.14. 12,021,167 shares of the company were exchanged, compared to its average volume of 4,463,167. The company has a fifty day simple moving average of $5.29 and a 200-day simple moving average of $4.49. UP Fintech has a 12 month low of $3.10 and a 12 month high of $14.48. 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 cap of $963.30 million, a PE ratio of 35.24 and a beta of 0.93.

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

Institutional Investors Weigh In On UP Fintech

A number of large investors have recently modified their holdings of TIGR. Sparta 24 Ltd. boosted 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 valued at $16,811,000 after purchasing an additional 1,675,296 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of UP Fintech by 6,367.8% in the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company's stock valued at $1,560,000 after purchasing an additional 446,572 shares in the last quarter. Marshall Wace LLP boosted 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 valued at $4,671,000 after purchasing an additional 384,213 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of UP Fintech by 162.7% in the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company's stock valued at $388,000 after purchasing an additional 57,257 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of UP Fintech by 19.8% in the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company's stock valued at $967,000 after purchasing an additional 46,394 shares in the last quarter. Institutional investors and hedge funds own 9.03% of the company's stock.

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.