UP Fintech (NASDAQ:TIGR) Shares Gap Up – Time to Buy?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) gapped up prior to trading on Friday . The stock had previously closed at $7.01, but opened at $7.36. UP Fintech shares last traded at $7.52, with a volume of 2,045,684 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target on the stock.

UP Fintech Trading Up 6.5 %

The company has a market cap of $1.38 billion, a P/E ratio of 37.38 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $7.15 and its 200-day moving average is $6.41.

Institutional Trading of UP Fintech

Several institutional investors have recently added to or reduced their stakes 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 valued at $36,173,000 after acquiring an additional 4,654,351 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of UP Fintech by 808.5% in the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after buying an additional 1,617,702 shares during the last quarter. Millennium Management LLC grew its holdings in shares of UP Fintech by 2,631.2% in the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock worth $10,471,000 after acquiring an additional 1,561,617 shares during the period. Contrarius Group Holdings Ltd purchased a new position in UP Fintech in the fourth quarter worth about $8,105,000. Finally, Two Sigma Advisers LP boosted its stake in shares of UP Fintech by 841.6% during the 4th quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after acquiring an additional 794,500 shares during the last quarter. 9.03% of the stock is currently owned by hedge funds and other 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.