UP Fintech (NASDAQ:TIGR) Sees Unusually-High Trading Volume – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) saw unusually-strong trading volume on Monday . Approximately 2,424,572 shares changed hands during trading, a decline of 46% from the previous session’s volume of 4,482,527 shares.The stock last traded at $6.41 and had previously closed at $6.19.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TIGR. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a research note on Thursday, October 24th. Citigroup restated a “sell” rating and set a $5.50 price target (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd.

UP Fintech Trading Down 4.0 %

The firm’s fifty day moving average price is $5.49 and its two-hundred day moving average price is $4.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $1.01 billion, a P/E ratio of 37.88 and a beta of 0.93.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of UP Fintech by 53.6% during 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. Blue Trust Inc. boosted its position in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after purchasing an additional 9,748 shares in the last quarter. Headlands Technologies LLC purchased a new position in UP Fintech during the first quarter valued at $34,000. Virtu Financial LLC lifted its position in UP Fintech by 61.3% during the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock valued at $93,000 after acquiring an additional 10,329 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of UP Fintech during the second quarter valued at approximately $78,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

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.