Panagora Asset Management Inc. Purchases New Holdings in UP Fintech Holding Limited (NASDAQ:TIGR)
Other institutional investors also recently modified their holdings of the company. Korea Investment CORP purchased a new position in UP Fintech in the 2nd quarter valued at about $41,000. Salem Investment Counselors Inc. purchased a new position in UP Fintech in the 2nd quarter valued at about $61,000. Royal Bank of Canada lifted its stake in UP Fintech by 584.5% in the 2nd quarter. Royal Bank of Canada now owns 3,094 shares of the company’s stock valued at $90,000 after buying an additional 2,642 shares in the last quarter. Shell Asset Management Co. purchased a new position in UP Fintech in the 2nd quarter valued at about $101,000. Finally, TAP Consulting LLC acquired a new stake in UP Fintech in the 3rd quarter valued at about $106,000. 16.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. Citigroup cut their price objective on shares of UP Fintech from $18.22 to $7.58 and set a “buy” rating for the company in a report on Wednesday, December 1st. Daiwa Capital Markets assumed coverage on shares of UP Fintech in a report on Tuesday, January 18th. They issued a “buy” rating and a $6.60 price objective for the company. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $16.47.
Shares of NASDAQ TIGR opened at $3.80 on Friday. The company has a 50 day simple moving average of $5.09 and a 200-day simple moving average of $9.93. The company has a market capitalization of $613.32 million, a P/E ratio of 21.11 and a beta of 1.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 1.16. UP Fintech Holding Limited has a 1 year low of $3.79 and a 1 year high of $38.50.
UP Fintech (NASDAQ:TIGR) last announced its quarterly earnings results on Monday, November 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. UP Fintech had a net margin of 11.45% and a return on equity of 7.94%.
UP Fintech Company Profile
UP Fintech Holding Ltd. is a brokerage firm, which engages in the provision of online brokerage services. The company was founded by Tian Hua Wu in 2014 and is headquartered in Chaoyang District, China.
Further Reading: Are sell-side analysts objective?
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