UP Fintech (NASDAQ:TIGR) Upgraded to Buy at Wall Street Zen

UP Fintech (NASDAQ:TIGR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other research analysts have also recently issued reports on TIGR. Bank of America assumed coverage on UP Fintech in a report on Monday, March 17th. They issued a “buy” rating for the company. Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.83.

UP Fintech Price Performance

Shares of TIGR stock opened at $7.89 on Friday. The company has a market capitalization of $1.46 billion, a P/E ratio of 39.45 and a beta of 0.70. UP Fintech has a 12 month low of $3.36 and a 12 month high of $14.48. The stock has a 50 day moving average of $8.19 and a two-hundred day moving average of $7.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

UP Fintech (NASDAQ:TIGR) last posted its earnings results on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.11 by $0.06. The business had revenue of $124.10 million during the quarter, compared to the consensus estimate of $73.60 million. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP boosted its holdings in shares of UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock worth $36,173,000 after buying an additional 4,654,351 shares during the period. Sparta 24 Ltd. boosted its holdings in shares of UP Fintech by 48.0% during the first quarter. Sparta 24 Ltd. now owns 3,657,104 shares of the company’s stock worth $31,415,000 after acquiring an additional 1,186,137 shares during the period. Millennium Management LLC boosted its holdings in shares of UP Fintech by 48.0% during the first quarter. Millennium Management LLC now owns 2,398,744 shares of the company’s stock worth $20,605,000 after acquiring an additional 777,776 shares during the period. Two Sigma Investments LP boosted its holdings in shares of UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after acquiring an additional 1,617,702 shares during the period. Finally, Contrarius Group Holdings Ltd bought a new stake in UP Fintech in the 4th quarter valued at $8,105,000. 9.03% of the stock is currently owned by institutional investors.

UP Fintech Company Profile

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.