UP Fintech (NASDAQ:TIGR) Upgraded by Citigroup to Neutral Rating

Citigroup upgraded shares of UP Fintech (NASDAQ:TIGR) from a sell rating to a neutral rating in a research note published on Wednesday morning, Marketbeat Ratings reports. Citigroup currently has $9.50 target price on the stock, up from their prior target price of $5.80.

Other analysts have also issued reports about the stock. Bank of America started coverage on shares of UP Fintech in a report on Monday, March 17th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective on the stock.

UP Fintech Stock Performance

Shares of TIGR stock opened at $8.86 on Wednesday. The business has a 50-day moving average of $7.45 and a 200 day moving average of $6.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. UP Fintech has a 1-year low of $3.10 and a 1-year high of $14.48. The stock has a market capitalization of $1.64 billion, a PE ratio of 44.30 and a beta of 0.87.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The firm had revenue of $124.10 million for the quarter, compared to analysts’ expectations of $73.60 million.

Hedge Funds Weigh In On UP Fintech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after acquiring an additional 4,654,351 shares during the period. Two Sigma Investments LP boosted its position in shares of UP Fintech by 808.5% in the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after purchasing an additional 1,617,702 shares in the last quarter. Millennium Management LLC boosted its position in shares of UP Fintech by 2,631.2% in the 4th quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock worth $10,471,000 after purchasing an additional 1,561,617 shares in the last quarter. Contrarius Group Holdings Ltd bought a new position in UP Fintech during the 4th quarter valued at approximately $8,105,000. Finally, Two Sigma Advisers LP raised its stake in UP Fintech by 841.6% during the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock valued at $5,742,000 after buying an additional 794,500 shares during the last quarter. Hedge funds and other institutional investors own 9.03% of the company’s stock.

UP Fintech Company Profile

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.