Bank of America Initiates Coverage on UP Fintech (NASDAQ:TIGR)

Bank of America assumed coverage on shares of UP Fintech (NASDAQ:TIGR - Free Report) in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research report on Thursday, January 2nd. They issued a "buy" rating and a $9.40 price target on the stock.

UP Fintech Stock Performance

Shares of UP Fintech stock traded up $0.02 on Monday, reaching $9.71. The stock had a trading volume of 12,587,854 shares, compared to its average volume of 6,321,211. UP Fintech has a fifty-two week low of $3.10 and a fifty-two week high of $14.48. The business's 50-day moving average price is $7.27 and its two-hundred day moving average price is $6.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $1.79 billion, a P/E ratio of 48.73 and a beta of 0.87.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly 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. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The company had revenue of $124.10 million during the quarter, compared to analysts' expectations of $73.60 million.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of UP Fintech by 51.5% during the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock worth $59,000 after buying an additional 3,105 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of UP Fintech by 527.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock valued at $30,000 after acquiring an additional 3,901 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of UP Fintech by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 81,842 shares of the company's stock valued at $437,000 after purchasing an additional 4,082 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of UP Fintech in the 4th quarter worth $34,000. Finally, Deutsche Bank AG acquired a new stake in shares of UP Fintech during the fourth quarter worth $38,000. 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.