UP Fintech (NASDAQ:TIGR) Sees Large Volume Increase – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR) shares saw an uptick in trading volume on Friday . 7,006,750 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 4,722,723 shares.The stock last traded at $7.72 and had previously closed at $7.25.

Analysts Set New Price Targets

A number of brokerages have commented on TIGR. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft began coverage on UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective on the stock. Finally, Citigroup reiterated a “sell” rating and set a $5.50 target price (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd.

UP Fintech Trading Up 7.2 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.44 billion, a P/E ratio of 38.61 and a beta of 0.86. The firm has a 50-day moving average of $6.73 and a two-hundred day moving average of $5.76.

Hedge Funds Weigh In On UP Fintech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sparta 24 Ltd. grew its position in shares of UP Fintech by 113.7% during the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after buying an additional 1,675,296 shares during the period. State Street Corp increased its stake in UP Fintech by 4.8% in the third quarter. State Street Corp now owns 742,452 shares of the company’s stock valued at $3,965,000 after purchasing an additional 34,186 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of UP Fintech by 10.1% during the third quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock valued at $3,610,000 after purchasing an additional 62,145 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in UP Fintech by 66.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock valued at $1,090,000 after buying an additional 81,300 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new position in shares of UP Fintech during the fourth quarter worth approximately $742,000. 9.03% of the stock is currently 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 services.