Bank of America Begins Coverage on UP Fintech (NASDAQ:TIGR)

Equities researchers at Bank of America started coverage on shares of UP Fintech (NASDAQ:TIGR) in a report released on Monday, MarketBeat reports. The firm set a “buy” rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective on the stock.

UP Fintech Price Performance

Shares of TIGR opened at $9.69 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. UP Fintech has a 1 year low of $3.10 and a 1 year high of $14.48. The stock has a market cap of $1.79 billion, a P/E ratio of 48.45 and a beta of 0.87. The stock’s 50-day moving average price is $7.27 and its two-hundred day moving average price is $6.55.

Hedge Funds Weigh In On UP Fintech

Institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd bought a new position in shares of UP Fintech during the 3rd quarter valued at about $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in UP Fintech by 66.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock valued at $1,090,000 after acquiring an additional 81,300 shares in the last quarter. Virtu Financial LLC bought a new stake in UP Fintech in the 3rd quarter valued at approximately $539,000. Nkcfo LLC bought a new stake in UP Fintech in the 4th quarter valued at approximately $323,000. Finally, Diversify Wealth Management LLC bought a new stake in UP Fintech in the 4th quarter valued at approximately $742,000. Institutional investors 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.