UP Fintech (NASDAQ:TIGR) Sees Unusually-High Trading Volume – Here’s Why

UP Fintech Holding Limited (NASDAQ:TIGR) saw an uptick in trading volume on Friday . 7,006,750 shares traded 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.

Analyst Ratings Changes

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

UP Fintech Stock Up 7.2 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.44 billion, a PE ratio of 38.61 and a beta of 0.86. The business has a 50 day moving average price of $6.73 and a 200 day moving average price of $5.76.

Hedge Funds Weigh In On UP Fintech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in UP Fintech by 162.7% in the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after buying an additional 57,257 shares during the period. GAMMA Investing LLC grew its stake in 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 purchasing an additional 2,104 shares in the last quarter. Blue Trust Inc. raised its position in UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after purchasing an additional 9,748 shares in the last quarter. Sparta 24 Ltd. boosted its stake in shares of UP Fintech by 113.7% in the 3rd quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock valued at $16,811,000 after buying an additional 1,675,296 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after buying an additional 4,377 shares in the last quarter. 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.