UP Fintech (NASDAQ:TIGR) Sees Strong Trading Volume – Here’s What Happened

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) saw an uptick in trading volume on Friday . 5,647,435 shares were traded during trading, a decline of 10% from the previous session’s volume of 6,264,307 shares.The stock last traded at $9.03 and had previously closed at $8.30.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective for the company. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a research report on Thursday, October 24th.

UP Fintech Price Performance

The stock’s 50-day moving average is $7.09 and its two-hundred day moving average is $6.05. The company has a market capitalization of $1.53 billion, a PE ratio of 41.63 and a beta of 0.86. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Institutional Trading of UP Fintech

A number of large investors have recently made changes to their positions in the stock. Marshall Wace LLP boosted its holdings in shares of UP Fintech by 492.4% in the fourth quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after purchasing an additional 4,654,351 shares during the period. Sparta 24 Ltd. lifted its holdings in shares of UP Fintech by 113.7% in the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after buying an additional 1,675,296 shares during the period. Two Sigma Investments LP grew its position in shares of UP Fintech by 808.5% during the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after buying an additional 1,617,702 shares in the last quarter. Millennium Management LLC increased its stake in shares of UP Fintech by 2,631.2% during the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock valued at $10,471,000 after buying an additional 1,561,617 shares during the period. Finally, Contrarius Group Holdings Ltd bought a new stake in shares of UP Fintech in the fourth quarter valued at about $8,105,000. 9.03% of the stock is owned by hedge funds and other 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.