UP Fintech (NASDAQ:TIGR) Trading 8.3% Higher - Here's Why

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s stock price shot up 8.3% during mid-day trading on Friday . The stock traded as high as $6.65 and last traded at $6.76. 1,518,371 shares were traded during trading, a decline of 48% from the average session volume of 2,907,522 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

Several research firms have recently issued reports on TIGR. Citigroup reaffirmed a "sell" rating and set a $5.50 price target (up previously from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd. China Renaissance raised 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, Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research report on Thursday, January 2nd. They set a "buy" rating and a $9.40 price objective for the company.

UP Fintech Stock Up 8.5 %

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 company has a market cap of $1.25 billion, a PE ratio of 33.85 and a beta of 0.86. The firm has a fifty day simple moving average of $6.40 and a 200 day simple moving average of $5.52.

Institutional Trading of UP Fintech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company's stock worth $32,000 after purchasing an additional 2,104 shares during the period. Blue Trust Inc. grew its holdings in shares of UP Fintech by 198.6% during the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company's stock worth $78,000 after purchasing an additional 9,748 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of UP Fintech by 38.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company's stock worth $84,000 after purchasing an additional 4,377 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of UP Fintech during the 4th quarter worth about $119,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of UP Fintech during the 3rd quarter worth about $121,000. Hedge funds and other 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.