UP Fintech (NASDAQ:TIGR) Shares Gap Up - What's Next?

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.49, but opened at $6.83. UP Fintech shares last traded at $6.70, with a volume of 3,944,721 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on TIGR. Citigroup restated a "sell" rating and set a $5.50 target price (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. China Renaissance raised 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 Stock Performance

The firm has a 50-day simple moving average of $5.69 and a two-hundred day simple moving average of $4.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 39.47 and a beta of 0.91.

UP Fintech (NASDAQ:TIGR - Get Free Report) last announced its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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%.

Institutional Investors Weigh In On UP Fintech

Several institutional investors have recently added to or reduced their stakes in the business. Sparta 24 Ltd. lifted its stake in UP Fintech by 113.7% during the third 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 last quarter. Marshall Wace LLP increased its holdings in shares of UP Fintech by 52.8% in the second 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 during the period. GSA Capital Partners LLP increased its holdings in shares of UP Fintech by 10.1% in the third quarter. GSA Capital Partners LLP now owns 675,961 shares of the company's stock valued at $3,610,000 after purchasing an additional 62,145 shares during the period. Russell Investments Group Ltd. grew its holdings in UP Fintech by 6,367.8% during the first quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company's stock worth $1,560,000 after acquiring an additional 446,572 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in UP Fintech by 162.7% during the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company's stock worth $388,000 after acquiring an additional 57,257 shares during the period. Hedge funds and other institutional investors 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.