UP Fintech (NASDAQ:TIGR) Shares Gap Up – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $5.50, but opened at $5.73. UP Fintech shares last traded at $5.73, with a volume of 162,768 shares.

Analyst Upgrades and Downgrades

TIGR has been the topic of a number of recent analyst reports. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective on the stock in a research report on Thursday, October 24th. Citigroup reissued a “sell” rating and set a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd.

UP Fintech Price Performance

The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 27.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a 50-day moving average price of $6.45 and a 200 day moving average price of $4.93.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $87.44 million during the quarter. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

Institutional Trading of UP Fintech

A number of large investors have recently bought and sold shares of TIGR. Marshall Wace LLP raised 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 buying an additional 384,213 shares during the last quarter. Sparta 24 Ltd. raised its stake in UP Fintech by 113.7% during the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after acquiring an additional 1,675,296 shares during the last quarter. Virtu Financial LLC lifted its position in UP Fintech by 61.3% during the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock worth $93,000 after acquiring an additional 10,329 shares during the period. GAMMA Investing LLC lifted its position in 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 acquiring an additional 2,104 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of UP Fintech in the 2nd quarter valued at approximately $129,000. Institutional investors and hedge funds 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.