UP Fintech (NASDAQ:TIGR) Earns Outperform Rating from Analysts at CICC Research
CICC Research initiated coverage on shares of UP Fintech (NASDAQ:TIGR) in a report published on Wednesday, Benzinga reports. The firm issued an outperform rating and a $30.60 price objective on the stock.
Separately, Citigroup increased their price target on shares of UP Fintech from $8.30 to $38.60 in a research report on Friday, February 26th.
Shares of NASDAQ:TIGR opened at $23.74 on Wednesday. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 395.73 and a beta of 2.18. The firm’s 50 day simple moving average is $24.11 and its 200 day simple moving average is $11.06. UP Fintech has a fifty-two week low of $2.03 and a fifty-two week high of $38.50.
Several large investors have recently made changes to their positions in TIGR. California Public Employees Retirement System raised its position in shares of UP Fintech by 3.5% in the 3rd quarter. California Public Employees Retirement System now owns 174,674 shares of the company’s stock valued at $828,000 after acquiring an additional 5,900 shares during the period. State Street Corp bought a new stake in UP Fintech during the 3rd quarter worth approximately $173,000. Arrowstreet Capital Limited Partnership bought a new stake in UP Fintech during the 3rd quarter worth approximately $1,088,000. Morgan Stanley increased its stake in UP Fintech by 20,166.5% during the 3rd quarter. Morgan Stanley now owns 1,400,821 shares of the company’s stock worth $6,640,000 after purchasing an additional 1,393,909 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in UP Fintech during the 3rd quarter worth approximately $167,000. Institutional investors and hedge funds own 3.90% 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 trade order placement and execution, margin financing, account management, investor education, community discussion, and customer support.
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