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

UP Fintech (NASDAQ:TIGR) was upgraded by Citigroup from a “sell” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat reports. The brokerage currently has a $9.50 price objective on the stock, up from their prior price objective of $5.80. Citigroup’s price objective suggests a potential upside of 7.22% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective on the stock. Bank of America began coverage on UP Fintech in a research note on Monday. They issued a “buy” rating on the stock.

UP Fintech Trading Down 8.3 %

Shares of UP Fintech stock opened at $8.86 on Wednesday. UP Fintech has a 12-month low of $3.10 and a 12-month high of $14.48. The stock has a market cap of $1.64 billion, a P/E ratio of 44.30 and a beta of 0.87. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $7.39 and its 200-day moving average is $6.59.

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

Institutional Investors Weigh In On UP Fintech

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in UP Fintech by 527.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $30,000 after acquiring an additional 3,901 shares during the period. SBI Securities Co. Ltd. acquired a new position in UP Fintech in the 4th quarter valued at $34,000. Deutsche Bank AG acquired a new position in UP Fintech in the 4th quarter valued at $38,000. GAMMA Investing LLC grew its holdings in UP Fintech by 51.5% in the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock valued at $59,000 after buying an additional 3,105 shares in the last quarter. Finally, Tairen Capital Ltd acquired a new position in UP Fintech in the 4th quarter valued at $68,000. 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.