UP Fintech (NASDAQ:TIGR) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of UP Fintech (NASDAQ:TIGR) in a research note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating on the stock.

TIGR has been the topic of several other research reports. Citigroup raised shares of UP Fintech from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.50 to $14.00 in a research report on Tuesday, July 22nd. Wall Street Zen upgraded UP Fintech from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.75.

UP Fintech Stock Performance

Shares of TIGR stock opened at $10.71 on Monday. The company has a 50-day simple moving average of $10.97 and a two-hundred day simple moving average of $9.46. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 0.71 and a beta of 0.64. UP Fintech has a 52-week low of $5.36 and a 52-week high of $14.48.

Institutional Trading of UP Fintech

Large investors have recently bought and sold shares of the company. Sparta 24 Ltd. grew its stake in shares of UP Fintech by 71.2% during the 2nd quarter. Sparta 24 Ltd. now owns 6,260,946 shares of the company’s stock valued at $60,418,000 after purchasing an additional 2,603,842 shares during the period. Jupiter Asset Management Ltd. bought a new position in UP Fintech in the second quarter worth approximately $24,456,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of UP Fintech by 282.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company’s stock worth $31,335,000 after acquiring an additional 2,397,261 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of UP Fintech in the 2nd quarter worth $12,993,000. Finally, Bank of America Corp DE lifted its position in UP Fintech by 122.6% during the second quarter. Bank of America Corp DE now owns 2,282,337 shares of the company’s stock valued at $22,025,000 after purchasing an additional 1,257,251 shares in the last quarter. 9.03% of the stock is owned by institutional investors.

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.