UP Fintech (NASDAQ:TIGR) Shares Gap Up – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $8.10, but opened at $8.56. UP Fintech shares last traded at $8.33, with a volume of 3,231,748 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TIGR shares. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price for the company.

UP Fintech Stock Performance

The company has a fifty day moving average of $7.06 and a two-hundred day moving average of $6.03. The stock has a market capitalization of $1.50 billion, a P/E ratio of 40.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11.

Hedge Funds Weigh In On UP Fintech

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in UP Fintech by 527.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after acquiring an additional 3,901 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of UP Fintech during the 4th quarter worth approximately $34,000. Deutsche Bank AG bought a new stake in shares of UP Fintech in the 4th quarter worth approximately $38,000. GAMMA Investing LLC boosted its position in UP Fintech by 51.5% during the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock valued at $59,000 after purchasing an additional 3,105 shares during the period. Finally, Tairen Capital Ltd bought a new position in UP Fintech during the 4th quarter worth $68,000. Institutional investors and hedge funds own 9.03% 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 investor education, community engagement, and IR platform services.