UP Fintech (NASDAQ:TIGR) Shares Gap Up – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGRGet Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $4.84, but opened at $5.24. UP Fintech shares last traded at $4.9640, with a volume of 1,607,761 shares changing hands.

Analysts Set New Price Targets

TIGR has been the subject of several research analyst reports. Wall Street Zen cut UP Fintech from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Citigroup decreased their target price on shares of UP Fintech to $7.10 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Finally, Bank of America restated a “buy” rating on shares of UP Fintech in a research report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.23.

View Our Latest Research Report on UP Fintech

UP Fintech Stock Performance

The company has a market capitalization of $1.01 billion, a PE ratio of 8.88 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. The business has a 50 day simple moving average of $4.73 and a 200 day simple moving average of $6.02.

Insider Activity at UP Fintech

In other UP Fintech news, Director Jian Liu sold 9,333 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $4.60, for a total transaction of $42,931.80. Following the completion of the sale, the director directly owned 62,665 shares in the company, valued at approximately $288,259. The trade was a 12.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 50.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers lifted its stake in shares of UP Fintech by 2.8% in the 2nd quarter. Cetera Investment Advisers now owns 50,173 shares of the company’s stock valued at $484,000 after purchasing an additional 1,385 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of UP Fintech in the second quarter valued at approximately $4,441,000. Diversify Advisory Services LLC boosted its position in UP Fintech by 42.4% in the 2nd quarter. Diversify Advisory Services LLC now owns 54,651 shares of the company’s stock valued at $552,000 after buying an additional 16,271 shares during the period. Diversify Wealth Management LLC grew its stake in UP Fintech by 29.1% during the 2nd quarter. Diversify Wealth Management LLC now owns 177,706 shares of the company’s stock worth $1,795,000 after purchasing an additional 40,032 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of UP Fintech by 15.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,274,250 shares of the company’s stock worth $12,297,000 after buying an additional 172,200 shares in the last quarter. Hedge funds and other institutional investors own 9.03% of the company’s stock.

About UP Fintech

(Get Free Report)

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.

See Also

Receive News & Ratings for UP Fintech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UP Fintech and related companies with MarketBeat.com's FREE daily email newsletter.