UP Fintech Target of Unusually High Options Trading (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR) was the target of some unusual options trading activity on Tuesday. Investors bought 24,253 call options on the company. This is an increase of 58% compared to the typical volume of 15,348 call options.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TIGR. The Goldman Sachs Group reissued a “sell” rating and set a $4.73 price target on shares of UP Fintech in a report on Friday, December 5th. Citigroup increased their price objective on UP Fintech to $17.50 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Price Performance

TIGR opened at $7.78 on Wednesday. The business has a 50 day simple moving average of $8.61 and a 200-day simple moving average of $9.58. The stock has a market capitalization of $1.45 billion, a P/E ratio of 9.37, a P/E/G ratio of 0.22 and a beta of 0.43. UP Fintech has a 12 month low of $6.38 and a 12 month high of $13.55.

Institutional Investors Weigh In On UP Fintech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position in UP Fintech by 66.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company’s stock worth $57,705,000 after purchasing an additional 2,161,023 shares in the last quarter. Capital International Investors acquired a new stake in UP Fintech in the 4th quarter valued at about $47,855,000. Jupiter Asset Management Ltd. increased its holdings in UP Fintech by 157.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company’s stock valued at $40,307,000 after acquiring an additional 2,577,459 shares in the last quarter. Bank of America Corp DE increased its holdings in UP Fintech by 122.6% during the 2nd quarter. Bank of America Corp DE now owns 2,282,337 shares of the company’s stock valued at $22,025,000 after acquiring an additional 1,257,251 shares in the last quarter. Finally, Marshall Wace LLP raised its position in UP Fintech by 128.5% during the fourth quarter. Marshall Wace LLP now owns 2,019,197 shares of the company’s stock worth $19,304,000 after acquiring an additional 1,135,587 shares during the last quarter. 9.03% of the stock is currently owned by institutional investors and hedge funds.

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.