UP Fintech (NASDAQ:TIGR) Trading Up 4% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) shares traded up 4% during mid-day trading on Tuesday . The company traded as high as $9.26 and last traded at $9.19. 2,679,213 shares changed hands during trading, a decline of 58% from the average session volume of 6,402,810 shares. The stock had previously closed at $8.83.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TIGR shares. Citigroup raised shares of UP Fintech from a “sell” rating to a “neutral” rating and lifted their target price for the company from $5.80 to $9.50 in a report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research note on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective on the stock. Finally, Bank of America assumed coverage on UP Fintech in a report on Monday, March 17th. They issued a “buy” rating for the company.

UP Fintech Stock Performance

The stock’s 50-day moving average price is $7.51 and its 200-day moving average price is $6.70. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 45.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%. The firm had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $73.60 million.

Institutional Investors Weigh In On UP Fintech

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted 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 in the last quarter. Two Sigma Investments LP raised 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 purchasing an additional 1,617,702 shares during the last quarter. Millennium Management LLC grew its holdings in UP Fintech by 2,631.2% during the 4th 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 last quarter. Contrarius Group Holdings Ltd acquired a new stake in UP Fintech during the 4th quarter valued at $8,105,000. Finally, Two Sigma Advisers LP raised its holdings in shares of UP Fintech by 841.6% in the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after acquiring an additional 794,500 shares during the last quarter. 9.03% of the stock is owned by institutional investors and hedge funds.

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.