UP Fintech (NASDAQ:TIGR) Trading Up 7% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price traded up 7% during mid-day trading on Friday . The stock traded as high as $10.17 and last traded at $9.83. 23,441,585 shares traded hands during mid-day trading, an increase of 1,059% from the average session volume of 2,021,751 shares. The stock had previously closed at $9.19.

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their target price on shares of 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 Up 34.8 %

The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 53.87 and a beta of 0.93. 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 50 day moving average price of $4.23 and a two-hundred day moving average price of $4.09.

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

Institutional Trading of UP Fintech

Several institutional investors have recently added to or reduced their stakes in TIGR. GAMMA Investing LLC increased its position in shares of UP Fintech by 308.9% in the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock worth $26,000 after purchasing an additional 5,804 shares during the last quarter. Headlands Technologies LLC acquired a new stake in UP Fintech during the first quarter valued at approximately $34,000. SG Americas Securities LLC bought a new position in UP Fintech during the 2nd quarter worth approximately $78,000. Virtu Financial LLC grew its position 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 worth $93,000 after acquiring an additional 10,329 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of UP Fintech in the 2nd quarter valued at approximately $129,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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.