UP Fintech (NASDAQ:TIGR) Trading Up 11.2% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR) rose 11.2% during mid-day trading on Friday . The stock traded as high as $9.62 and last traded at $9.02. Approximately 27,560,246 shares changed hands during mid-day trading, an increase of 640% from the average daily volume of 3,721,910 shares. The stock had previously closed at $8.11.

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their target price on UP Fintech from $6.49 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd.

UP Fintech Trading Up 6.3 %

The stock has a 50-day moving average of $4.76 and a 200 day moving average of $4.28. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.35 billion, a PE ratio of 50.71 and a beta of 0.93.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Friday, August 30th. The company reported $0.02 EPS 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 business had revenue of $87.44 million during the quarter.

Hedge Funds Weigh In On UP Fintech

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in UP Fintech by 53.6% during the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after acquiring an additional 2,104 shares during the period. Headlands Technologies LLC purchased a new position in shares of UP Fintech during the 1st quarter valued at approximately $34,000. Virtu Financial LLC lifted its stake in shares of UP Fintech by 61.3% in the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock valued at $93,000 after purchasing an additional 10,329 shares during the period. SG Americas Securities LLC purchased a new stake in UP Fintech during the second quarter worth $78,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in UP Fintech during the second quarter worth $129,000. 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; and account management services.