UP Fintech (NASDAQ:TIGR) Price Target Cut to $18.22 by Analysts at Citigroup

UP Fintech (NASDAQ:TIGR) had its price objective cut by Citigroup from $21.63 to $18.22 in a report released on Monday morning, The Fly reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on TIGR. TheStreet downgraded UP Fintech from a c- rating to a d+ rating in a report on Wednesday, July 7th. The Goldman Sachs Group started coverage on shares of UP Fintech in a report on Tuesday, July 13th. They set a sell rating and a $21.10 price target on the stock.

TIGR opened at $13.79 on Monday. UP Fintech has a 52 week low of $4.30 and a 52 week high of $38.50. The stock has a market cap of $2.23 billion, a PE ratio of 172.40 and a beta of 1.73. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $16.21 and a 200-day moving average of $19.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital Ltd bought a new stake in shares of UP Fintech in the second quarter worth $93,512,000. BlackRock Inc. grew its position in UP Fintech by 5,487.1% during the second quarter. BlackRock Inc. now owns 3,205,640 shares of the company’s stock valued at $92,898,000 after buying an additional 3,148,264 shares during the period. Goldman Sachs Group Inc. increased its holdings in UP Fintech by 670.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,620,607 shares of the company’s stock valued at $46,965,000 after buying an additional 1,410,234 shares during the last quarter. Renaissance Technologies LLC bought a new position in UP Fintech in the first quarter worth approximately $23,185,000. Finally, Morgan Stanley boosted its stake in shares of UP Fintech by 588.0% during the 2nd quarter. Morgan Stanley now owns 1,293,774 shares of the company’s stock worth $37,493,000 after acquiring an additional 1,105,716 shares during the last quarter. 15.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

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