UP Fintech (NASDAQ:TIGR) Raised to “Hold” at Wall Street Zen

UP Fintech (NASDAQ:TIGR) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also issued reports on TIGR. Bank of America reiterated a “buy” rating on shares of UP Fintech in a report on Monday, June 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $7.70 price objective on shares of UP Fintech in a research report on Thursday. Finally, Citigroup reduced their target price on shares of UP Fintech to $7.10 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, UP Fintech presently has a consensus rating of “Moderate Buy” and an average target price of $8.16.

UP Fintech Price Performance

TIGR opened at $5.05 on Friday. The stock has a fifty day moving average price of $4.79 and a 200 day moving average price of $5.90. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06. UP Fintech has a 1 year low of $4.00 and a 1 year high of $13.42. The stock has a market cap of $957.99 million, a price-to-earnings ratio of 8.56 and a beta of 0.48.

Insiders Place Their Bets

In other UP Fintech news, Director Jian Liu sold 9,333 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $4.60, for a total transaction of $42,931.80. Following the transaction, the director directly owned 62,665 shares in the company, valued at $288,259. This trade represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIGR. Raymond James Financial Inc. acquired a new stake in UP Fintech in the 2nd quarter worth approximately $33,000. GeoWealth Management LLC bought a new stake in UP Fintech during the fourth quarter worth approximately $35,000. Hsbc Holdings PLC acquired a new position in UP Fintech during the first quarter valued at approximately $67,000. AXQ Capital LP acquired a new position in UP Fintech during the second quarter valued at approximately $72,000. Finally, Castleview Partners LLC bought a new position in shares of UP Fintech in the first quarter valued at approximately $74,000. 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.