UP Fintech Holding Limited (NASDAQ:TIGR) Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in UP Fintech Holding Limited (NASDAQ:TIGR) by 24.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,000 shares of the company’s stock after selling 17,100 shares during the quarter. Pictet Asset Management Holding SA’s holdings in UP Fintech were worth $336,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in UP Fintech in the 4th quarter worth about $213,000. Contrarius Group Holdings Ltd bought a new position in UP Fintech during the fourth quarter valued at approximately $8,105,000. EverSource Wealth Advisors LLC acquired a new stake in UP Fintech in the fourth quarter valued at approximately $159,000. Personal CFO Solutions LLC bought a new stake in UP Fintech in the fourth quarter worth approximately $201,000. Finally, Atria Investments Inc acquired a new position in shares of UP Fintech during the 4th quarter worth $321,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup upgraded shares of UP Fintech from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $5.80 to $9.50 in a report on Wednesday, March 19th. Bank of America initiated coverage on UP Fintech in a research report on Monday, March 17th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 price objective for the company.

UP Fintech Stock Performance

Shares of NASDAQ TIGR opened at $6.70 on Friday. UP Fintech Holding Limited has a 12 month low of $3.10 and a 12 month high of $14.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.24 billion, a P/E ratio of 33.50 and a beta of 0.65. The business’s 50 day moving average is $7.86 and its two-hundred day moving average is $7.10.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The company had revenue of $124.10 million for the quarter, compared to analyst estimates of $73.60 million.

About UP Fintech

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.