UP Fintech (NASDAQ:TIGR) Stock Price Up 5.4% – Should You Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) traded up 5.4% during mid-day trading on Tuesday . The company traded as high as $9.59 and last traded at $9.5850. 2,165,344 shares changed hands during trading, a decline of 61% from the average session volume of 5,556,268 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

TIGR has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “sell” rating and set a $4.73 target price on shares of UP Fintech in a research report on Friday, December 5th. Citigroup upped their target price on shares of UP Fintech to $17.50 and gave the company a “buy” rating in a report on Friday, December 5th. Wall Street Zen downgraded shares of UP Fintech from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. UBS Group started coverage on UP Fintech in a research report on Thursday, October 23rd. They set a “buy” rating and a $13.10 target price on the stock. Finally, Jefferies Financial Group began coverage on UP Fintech in a research note on Monday, September 29th. They set a “buy” rating and a $12.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.35.

UP Fintech Price Performance

The company has a 50 day moving average price of $9.42 and a 200 day moving average price of $10.02. The firm has a market cap of $1.77 billion, a PE ratio of 11.56 and a beta of 0.37.

UP Fintech (NASDAQ:TIGR) last announced its quarterly earnings data on Thursday, December 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. The company had revenue of $175.16 million during the quarter, compared to the consensus estimate of $132.76 million. UP Fintech had a net margin of 27.42% and a return on equity of 21.09%. During the same quarter in the prior year, the firm earned $0.11 EPS.

Institutional Trading of UP Fintech

Several hedge funds and other institutional investors have recently made changes to their positions in TIGR. Raymond James Financial Inc. purchased a new stake in UP Fintech in the 2nd quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd lifted its position in shares of UP Fintech by 205.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 5,094 shares of the company’s stock valued at $49,000 after acquiring an additional 3,427 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of UP Fintech during the second quarter valued at $52,000. Bayforest Capital Ltd purchased a new stake in UP Fintech during the 3rd quarter worth about $66,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of UP Fintech by 22.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock worth $62,000 after purchasing an additional 1,179 shares during the last quarter. Institutional investors and hedge funds own 9.03% of the company’s stock.

About UP Fintech

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.