UP Fintech (NASDAQ:TIGR) Shares Up 6%

UP Fintech Holding Limited (NASDAQ:TIGR) shares rose 6% during mid-day trading on Friday . The company traded as high as $5.11 and last traded at $5.10. Approximately 1,647,284 shares changed hands during mid-day trading, an increase of 62% from the average daily volume of 1,016,109 shares. The stock had previously closed at $4.81.

Wall Street Analyst Weigh In

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

UP Fintech Stock Up 4.0 %

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 company has a fifty day simple moving average of $3.82 and a 200-day simple moving average of $3.96. The firm has a market cap of $784.45 million, a P/E ratio of 22.48 and a beta of 0.90.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TIGR. Sparta 24 Ltd. purchased a new position in shares of UP Fintech in the second quarter valued at about $6,186,000. Marshall Wace LLP lifted 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 purchasing an additional 384,213 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in UP Fintech by 6,367.8% in the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock worth $1,560,000 after purchasing an additional 446,572 shares during the period. GSA Capital Partners LLP grew its holdings in UP Fintech by 19.8% during the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock valued at $967,000 after buying an additional 46,394 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of UP Fintech by 162.7% during the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after buying an additional 57,257 shares during the last quarter. Hedge funds and other institutional investors own 9.03% of the company’s stock.

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; and account management services.