UP Fintech (NASDAQ:TIGR) Shares Gap Up to $5.65

UP Fintech Holding Limited (NASDAQ:TIGR – Get Rating) shares gapped up prior to trading on Monday . The stock had previously closed at $5.65, but opened at $5.88. UP Fintech shares last traded at $5.70, with a volume of 129,050 shares trading hands.

Several equities analysts have issued reports on the company. Daiwa Capital Markets began coverage on UP Fintech in a research report on Tuesday, January 18th. They issued a “buy” rating and a $6.60 price objective for the company. Citigroup decreased their price objective on UP Fintech from $18.22 to $7.58 and set a “buy” rating for the company in a research note on Wednesday, December 1st.

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The firm has a 50 day simple moving average of $4.49 and a 200-day simple moving average of $6.40. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.33. The stock has a market cap of $913.52 million, a P/E ratio of 70.76 and a beta of 1.45.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE bought a new position in UP Fintech during the 3rd quarter worth $25,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of UP Fintech in the 3rd quarter valued at about $30,000. Ground Swell Capital LLC acquired a new stake in shares of UP Fintech in the 4th quarter valued at about $57,000. Envestnet Asset Management Inc. acquired a new position in UP Fintech during the 4th quarter valued at about $59,000. Finally, Cetera Investment Advisers acquired a new position in UP Fintech during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 16.44% of the company’s stock.

UP Fintech Company Profile (NASDAQ:TIGR)

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; and account management services.

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