UP Fintech (NASDAQ:TIGR) Shares Up 12.7% – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) rose 12.7% during mid-day trading on Thursday . The stock traded as high as $7.49 and last traded at $7.46. Approximately 16,247,719 shares traded hands during mid-day trading, an increase of 247% from the average daily volume of 4,685,293 shares. The stock had previously closed at $6.62.

Analyst Upgrades and Downgrades

A number of analysts have commented on TIGR shares. China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a research note on Thursday, October 24th. Citigroup reissued a “sell” rating and set a $5.50 target price (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd.

UP Fintech Stock Performance

The company has a 50-day moving average of $5.80 and a 200-day moving average of $4.71. The company has a market cap of $1.34 billion, a PE ratio of 42.82 and a beta of 0.91. 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 (NASDAQ:TIGR) last posted its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $87.44 million for the quarter. UP Fintech had a return on equity of 5.35% and a net margin of 8.59%.

Institutional Investors Weigh In On UP Fintech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after acquiring an additional 2,104 shares in the last quarter. Headlands Technologies LLC bought a new position in UP Fintech in the 1st quarter valued at $34,000. SG Americas Securities LLC purchased a new stake in shares of UP Fintech during the 2nd quarter valued at $78,000. Blue Trust Inc. raised its stake in shares of UP Fintech by 198.6% during the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after buying an additional 4,377 shares during the last quarter. Hedge funds and other institutional investors own 9.03% of the company’s stock.

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.