UP Fintech Holding Limited (NASDAQ:TIGR) Sees Large Growth in Short Interest

UP Fintech Holding Limited (NASDAQ:TIGR) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 7,590,000 shares, an increase of 88.8% from the September 30th total of 4,020,000 shares. Based on an average daily volume of 11,870,000 shares, the days-to-cover ratio is presently 0.6 days.

UP Fintech Price Performance

Shares of TIGR stock traded up $0.05 on Friday, reaching $6.19. The company’s stock had a trading volume of 10,469,322 shares, compared to its average volume of 4,492,261. The company has a market capitalization of $1.03 billion, a P/E ratio of 26.91 and a beta of 0.93. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32. UP Fintech has a 12-month low of $3.10 and a 12-month high of $14.48. The stock’s 50 day simple moving average is $5.38 and its 200-day simple moving average is $4.52.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). UP Fintech had a return on equity of 5.35% and a net margin of 8.59%. The business had revenue of $87.44 million during the quarter.

Institutional Investors Weigh In On UP Fintech

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after purchasing an additional 2,104 shares during the period. Headlands Technologies LLC bought a new position in UP Fintech during the first quarter worth $34,000. Blue Trust Inc. raised its stake in UP Fintech by 198.6% during the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after acquiring an additional 9,748 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of UP Fintech in the second quarter valued at $78,000. Finally, Virtu Financial LLC boosted its holdings in shares of UP Fintech by 61.3% during the first quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock worth $93,000 after purchasing an additional 10,329 shares during the period. 9.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TIGR shares. Citigroup reiterated a “sell” rating and issued a $5.50 price target (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective on the stock in a research note on Thursday.

UP Fintech Company Profile

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.