UP Fintech (NASDAQ:TIGR) Shares Up 9.8% - Time to Buy?

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price was up 9.8% on Wednesday . The stock traded as high as $7.91 and last traded at $7.75. Approximately 4,255,218 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 6,793,293 shares. The stock had previously closed at $7.06.

Wall Street Analysts Forecast Growth

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

UP Fintech Trading Down 1.8 %

The stock has a market cap of $1.34 billion, a P/E ratio of 36.20 and a beta of 0.86. The firm's fifty day moving average price is $7.10 and its two-hundred day moving average price is $6.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TIGR. Marshall Wace LLP increased its stake in UP Fintech by 492.4% in the fourth quarter. Marshall Wace LLP now owns 5,599,514 shares of the company's stock valued at $36,173,000 after acquiring an additional 4,654,351 shares during the last quarter. Two Sigma Investments LP increased its stake in UP Fintech by 808.5% in the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company's stock valued at $11,743,000 after acquiring an additional 1,617,702 shares during the last quarter. Millennium Management LLC increased its stake in UP Fintech by 2,631.2% in the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company's stock valued at $10,471,000 after acquiring an additional 1,561,617 shares during the last quarter. Contrarius Group Holdings Ltd bought a new position in UP Fintech in the fourth quarter valued at $8,105,000. Finally, Two Sigma Advisers LP increased its stake in UP Fintech by 841.6% in the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company's stock valued at $5,742,000 after acquiring an additional 794,500 shares during the last quarter. Institutional investors own 9.03% of the company's stock.

About UP Fintech

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.