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

UP Fintech Holding Limited (NASDAQ:TIGR) shares saw strong trading volume on Tuesday . 4,580,673 shares traded hands during trading, an increase of 26% from the previous session’s volume of 3,630,934 shares.The stock last traded at $4.86 and had previously closed at $4.36.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UP Fintech in a research note on Monday, April 20th. Three 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’s stock. According to data from MarketBeat.com, UP Fintech has a consensus rating of “Hold” and a consensus price target of $11.83.

UP Fintech Stock Up 12.2%

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $6.53 and a 200 day moving average of $8.02. The firm has a market cap of $927.63 million, a price-to-earnings ratio of 5.37, a PEG ratio of 0.16 and a beta of 0.53.

UP Fintech (NASDAQ:TIGR) last announced its quarterly earnings data on Thursday, March 19th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. UP Fintech had a return on equity of 21.87% and a net margin of 28.82%.The firm had revenue of $156.54 million during the quarter, compared to analysts’ expectations of $142.01 million. As a group, sell-side analysts predict that UP Fintech Holding Limited will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On UP Fintech

A number of hedge funds have recently added to or reduced their stakes in the company. Sparta 24 Ltd. grew its stake in UP Fintech by 9.1% in the first quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock valued at $36,592,000 after acquiring an additional 482,607 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in UP Fintech by 66.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company’s stock valued at $57,705,000 after acquiring an additional 2,161,023 shares during the period. Capital International Investors acquired a new stake in UP Fintech in the fourth quarter valued at approximately $47,855,000. Jupiter Asset Management Ltd. grew its stake in UP Fintech by 157.3% in the fourth 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 during the period. Finally, Bank of America Corp DE grew its stake in UP Fintech by 122.6% in the second 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 during the period. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.