UP Fintech (NASDAQ:TIGR) Stock Price Up 11.2% – Here’s Why

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) rose 11.2% during trading on Friday . The stock traded as high as $9.62 and last traded at $9.02. Approximately 27,560,246 shares changed hands during mid-day trading, an increase of 640% from the average daily volume of 3,721,910 shares. The stock had previously closed at $8.11.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price target 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 Price Performance

The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 51.89 and a beta of 0.93. The company has a 50 day simple moving average of $4.66 and a 200-day simple moving average of $4.24. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32.

UP Fintech (NASDAQ:TIGR) last posted 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 business had revenue of $87.44 million during the quarter.

Institutional Trading of UP Fintech

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after acquiring an additional 2,104 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of UP Fintech in the first quarter valued at approximately $34,000. SG Americas Securities LLC bought a new position in UP Fintech during the 2nd quarter worth $78,000. Virtu Financial LLC raised its holdings in UP Fintech by 61.3% in the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock valued at $93,000 after acquiring an additional 10,329 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of UP Fintech during the 2nd quarter worth $129,000. Institutional investors own 9.03% of the company’s stock.

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.