UP Fintech (NASDAQ:TIGR) Shares Gap Up - Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $8.47, but opened at $9.20. UP Fintech shares last traded at $8.76, with a volume of 6,746,949 shares trading hands.

Wall Street Analysts Forecast Growth

TIGR has been the subject of a number of research analyst reports. China Renaissance raised shares of UP Fintech from a "hold" rating to a "buy" rating and set a $7.58 price objective for the company in a research report on Thursday, October 24th. Citigroup restated a "sell" rating and set a $5.50 price target (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a report on Thursday, January 2nd. They issued a "buy" rating and a $9.40 price objective on the stock.

UP Fintech Stock Down 3.5 %

The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 42.80 and a beta of 0.86. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The business's fifty day moving average is $7.04 and its two-hundred day moving average is $6.02.

Institutional Trading of UP Fintech

A number of large investors have recently modified their holdings of TIGR. Tower Research Capital LLC TRC increased its holdings in UP Fintech by 527.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock worth $30,000 after purchasing an additional 3,901 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of UP Fintech during the fourth quarter worth about $34,000. Deutsche Bank AG purchased a new stake in shares of UP Fintech during the fourth quarter worth approximately $38,000. GAMMA Investing LLC raised its holdings in UP Fintech by 51.5% in the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock valued at $59,000 after acquiring an additional 3,105 shares in the last quarter. Finally, Tairen Capital Ltd purchased a new position in UP Fintech in the fourth quarter worth approximately $68,000. 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.