UP Fintech Holding Limited (NASDAQ:TIGR) Short Interest Update

UP Fintech Holding Limited (NASDAQ:TIGR) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 5,160,000 shares, a drop of 20.9% from the February 13th total of 6,520,000 shares. Approximately 5.7% of the company’s shares are sold short. Based on an average daily trading volume, of 7,100,000 shares, the days-to-cover ratio is presently 0.7 days.

UP Fintech Stock Performance

Shares of UP Fintech stock opened at $7.65 on Monday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 38.25 and a beta of 0.87. UP Fintech has a 52 week low of $3.10 and a 52 week high of $14.48. 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 firm’s 50 day moving average is $7.17 and its two-hundred day moving average is $6.48.

Hedge Funds Weigh In On UP Fintech

Hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new position in UP Fintech in the third quarter valued at approximately $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of UP Fintech by 66.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after acquiring an additional 81,300 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of UP Fintech during the third quarter worth approximately $539,000. Nkcfo LLC purchased a new position in shares of UP Fintech during the fourth quarter worth approximately $323,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of UP Fintech during the fourth quarter worth approximately $742,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target on the stock.

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.