UP Fintech (NASDAQ:TIGR) Shares Gap Up – Still a Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) gapped up prior to trading on Tuesday . The stock had previously closed at $6.49, but opened at $6.83. UP Fintech shares last traded at $6.70, with a volume of 3,944,721 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup reaffirmed a “sell” rating and set a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a research report on Thursday, October 24th.

UP Fintech Stock Performance

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 39.30 and a beta of 0.91. The stock’s 50-day simple moving average is $5.69 and its two-hundred day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $87.44 million during the quarter. UP Fintech had a net margin of 8.59% and a return on equity of 5.35%.

Hedge Funds Weigh In On UP Fintech

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after acquiring an additional 2,104 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of UP Fintech in the first quarter valued at approximately $34,000. Blue Trust Inc. increased its holdings in UP Fintech by 198.6% during the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after purchasing an additional 9,748 shares in the last quarter. Asset Management One Co. Ltd. raised its position in UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after purchasing an additional 4,377 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in UP Fintech in the second quarter worth $78,000. 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.