UP Fintech (NASDAQ:TIGR) Sees Strong Trading Volume - Should You Buy?

On Friday, shares of UP Fintech Holding Limited (NASDAQ:TIGR) experienced a significant increase in trading volume. During mid-day trading, 7,006,750 shares were traded, marking a 48% rise compared to the previous session's volume of 4,722,723 shares. The stock was last priced at $7.72 after closing at $7.25.

Analysts Set New Price Targets

Several brokerage firms have recently made updates regarding UP Fintech's stock. China Renaissance upgraded the rating from "hold" to "buy" and set a price target of $7.58 on October 24th. On January 2nd, Deutsche Bank began coverage of UP Fintech with a "buy" rating, giving it a price target of $9.40. Conversely, Citigroup maintained a "sell" rating for UP Fintech, raising its target price from $5.00 to $5.50 on October 22nd.

UP Fintech Trading Performance

UP Fintech saw an increase of 7.2% in its trading performance. The company currently has a current ratio of 1.11, a quick ratio also of 1.11, and a debt-to-equity ratio of 0.30. Its market capitalization stands at approximately $1.44 billion, with a price-to-earnings (P/E) ratio of 38.61, and a beta of 0.86. Additionally, the company's stock has a 50-day moving average of $6.73 and a 200-day moving average of $5.76.

Institutional Investors' Actions

Recently, various institutional investors and hedge funds have adjusted their positions in UP Fintech. Sparta 24 Ltd. significantly increased its stake by 113.7% in the third quarter, now holding 3,148,128 shares worth about $16.81 million after purchasing an additional 1,675,296 shares. Meanwhile, State Street Corp grew its ownership by 4.8%, now possessing 742,452 shares valued at $3.97 million. GSA Capital Partners LLP increased its stake by 10.1%, acquiring a total of 675,961 shares worth approximately $3.61 million. UBS AM, a segment of UBS Asset Management, expanded its holdings by 66.2%, now owning 204,100 shares valued at $1.09 million. Additionally, Diversify Wealth Management acquired a new stake in UP Fintech worth around $742,000. Currently, 9.03% of the stock is owned by institutional investors and hedge funds.

Company Overview

UP Fintech Holding Limited is an online brokerage firm that primarily focuses on serving Chinese investors. The company has developed a user-friendly brokerage platform that allows investors to trade various financial instruments, including stocks, options, and warrants, accessible via its mobile app and website. Moreover, UP Fintech provides several services such as investor education and community engagement to enhance its offerings.

Investment Considerations

With UP Fintech currently holding a "Hold" rating from analysts, potential investors might want to consider other investment opportunities. Some analysts have identified five stocks that are regarded as better opportunities at this time.

Stock, Trading, Volume