UP Fintech (NASDAQ:TIGR) Sees Large Volume Increase – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR) saw strong trading volume on Monday . 7,388,873 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 3,810,993 shares.The stock last traded at $8.19 and had previously closed at $8.62.

Analyst Upgrades and Downgrades

Separately, Citigroup cut their price objective on UP Fintech from $6.49 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd.

UP Fintech Stock Performance

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 firm has a market cap of $1.25 billion, a P/E ratio of 32.91 and a beta of 0.93. The business has a fifty day simple moving average of $4.76 and a 200-day simple moving average of $4.29.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings results on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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

A number of institutional investors have recently modified their holdings of TIGR. Sparta 24 Ltd. purchased a new stake in UP Fintech during the 2nd quarter valued at about $6,186,000. Marshall Wace LLP raised its holdings in UP Fintech by 52.8% in the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after acquiring an additional 384,213 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in UP Fintech by 6,367.8% during the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock valued at $1,560,000 after purchasing an additional 446,572 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of UP Fintech by 19.8% in the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock worth $967,000 after purchasing an additional 46,394 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of UP Fintech by 162.7% in the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock worth $388,000 after purchasing an additional 57,257 shares during the last quarter. 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; and account management services.