CICC Research Initiates Coverage on UP Fintech (NASDAQ:TIGR)
CICC Research assumed coverage on shares of UP Fintech (NASDAQ:TIGR) in a research report report published on Wednesday, Benzinga reports. The brokerage issued an outperform rating and a $30.60 price objective on the stock.
Separately, Citigroup increased their target price on UP Fintech from $8.30 to $38.60 in a report on Friday, February 26th.
Shares of TIGR opened at $23.74 on Wednesday. UP Fintech has a 1 year low of $2.03 and a 1 year high of $38.50. The stock has a 50 day simple moving average of $24.11 and a 200-day simple moving average of $11.06. The stock has a market cap of $3.35 billion, a PE ratio of 395.73 and a beta of 2.18.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in UP Fintech by 263.1% during the 4th quarter. JPMorgan Chase & Co. now owns 6,242 shares of the company’s stock worth $50,000 after acquiring an additional 4,523 shares during the last quarter. Jane Street Group LLC bought a new stake in UP Fintech during the 4th quarter worth approximately $95,000. Cetera Investment Advisers bought a new stake in UP Fintech during the 4th quarter worth approximately $113,000. Cetera Advisor Networks LLC bought a new stake in UP Fintech during the 4th quarter worth approximately $123,000. 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.
See Also: Net Margin
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