JPMorgan Chase & Co. Lowers Position in UP Fintech Holding Limited $TIGR

JPMorgan Chase & Co. trimmed its position in shares of UP Fintech Holding Limited (NASDAQ:TIGR) by 53.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,161,454 shares of the company’s stock after selling 1,334,173 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.63% of UP Fintech worth $12,393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of UP Fintech in the 2nd quarter valued at approximately $33,000. Bayforest Capital Ltd bought a new stake in shares of UP Fintech during the third quarter valued at approximately $66,000. SBI Securities Co. Ltd. grew its stake in UP Fintech by 21.2% in the third quarter. SBI Securities Co. Ltd. now owns 7,737 shares of the company’s stock worth $83,000 after purchasing an additional 1,355 shares during the period. Quarry LP bought a new position in UP Fintech in the third quarter worth $121,000. Finally, Cibc World Market Inc. bought a new position in UP Fintech in the third quarter worth $124,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TIGR. Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, January 21st. Citigroup increased their price target on shares of UP Fintech to $17.50 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $4.73 price target on shares of UP Fintech in a research report on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.83.

UP Fintech Stock Down 2.1%

Shares of NASDAQ:TIGR opened at $6.07 on Friday. The stock has a fifty day simple moving average of $7.85 and a two-hundred day simple moving average of $9.12. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.22 and a beta of 0.43. UP Fintech Holding Limited has a 12-month low of $6.06 and a 12-month high of $13.55. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.06.

UP Fintech (NASDAQ:TIGR) last released its earnings results on Thursday, March 19th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. UP Fintech had a return on equity of 21.87% and a net margin of 28.82%.The firm had revenue of $156.54 million for the quarter, compared to analysts’ expectations of $142.01 million.

About UP Fintech

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.