UP Fintech Sees Unusually High Options Volume (NASDAQ:TIGR)

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

Institutional Trading of UP Fintech

Several hedge funds and other institutional investors have recently made changes to their positions in TIGR. Dorsey Wright & Associates raised its holdings in UP Fintech by 2.6% in the 4th quarter. Dorsey Wright & Associates now owns 204,132 shares of the company’s stock valued at $1,952,000 after buying an additional 5,144 shares during the last quarter. XTX Topco Ltd grew its stake in shares of UP Fintech by 615.1% in the fourth quarter. XTX Topco Ltd now owns 78,916 shares of the company’s stock worth $754,000 after purchasing an additional 67,881 shares during the last quarter. Numerai GP LLC acquired a new stake in UP Fintech in the fourth quarter valued at $329,000. Oxford Asset Management LLP bought a new position in UP Fintech during the 4th quarter worth $232,000. Finally, Man Group plc lifted its holdings in UP Fintech by 6.5% during the 4th quarter. Man Group plc now owns 1,906,970 shares of the company’s stock worth $18,231,000 after buying an additional 116,424 shares during the period. 9.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on TIGR. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $4.73 target price on shares of UP Fintech in a report on Friday, December 5th. Citigroup upped 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 reiterated a “hold (c)” rating on shares of UP Fintech in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, UP Fintech currently has an average rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Stock Up 5.7%

Shares of NASDAQ:TIGR traded up $0.42 during trading on Tuesday, hitting $7.73. 1,112,423 shares of the company were exchanged, compared to its average volume of 3,143,997. UP Fintech has a 1-year low of $6.38 and a 1-year high of $13.55. The company has a market capitalization of $1.44 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.22 and a beta of 0.43. The business’s 50 day moving average is $8.65 and its 200-day moving average is $9.62.

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.