Shares of UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) rose 11.5% during trading on Wednesday . The company traded as high as $8.18 and last traded at $8.31. Approximately 3,982,436 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 5,167,621 shares. The stock had previously closed at $7.45.
Analysts Set New Price Targets
TIGR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a research note on Thursday, January 2nd. They issued a "buy" rating and a $9.40 price target for the company. China Renaissance raised shares of UP Fintech from a "hold" rating to a "buy" rating and set a $7.58 price target for the company in a research note on Thursday, October 24th. Finally, Citigroup reaffirmed a "sell" rating and issued a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd.
View Our Latest Stock Report on TIGR
UP Fintech Stock Up 4.7 %
The company has a market cap of $1.64 billion, a PE ratio of 44.35 and a beta of 0.86. The stock's 50 day moving average price is $6.98 and its 200-day moving average price is $5.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.
Institutional Investors Weigh In On UP Fintech
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in UP Fintech during the 3rd quarter valued at $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in UP Fintech by 66.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company's stock worth $1,090,000 after purchasing an additional 81,300 shares in the last quarter. Sparta 24 Ltd. raised its holdings in UP Fintech by 113.7% in the 3rd 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 in the last quarter. Virtu Financial LLC bought a new position in UP Fintech in the 3rd quarter worth $539,000. Finally, Diversify Wealth Management LLC bought a new position in UP Fintech in the 4th quarter worth $742,000. 9.03% of the stock is currently owned by institutional investors.
About UP Fintech
(
Get Free Report)
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.
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