Y Intercept Hong Kong Ltd Invests $793,000 in UP Fintech Holding Limited (NASDAQ:TIGR)

Key Points

• Y Intercept Hong Kong Ltd acquired 92,261 shares of UP Fintech, valued at approximately $793,000, marking a significant new investment in the company in the first quarter.
• UP Fintech's stock has experienced a 2.4% decrease, with its shares opening at $10.57, while having a twelve-month low of $3.36 and a high of $14.48.
• Analysts have raised UP Fintech's consensus rating to "Buy" and increased its price target from $9.50 to $14.00, indicating positive expectations for the company's future performance.

Y Intercept Hong Kong Ltd bought a new stake in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 92,261 shares of the company's stock, valued at approximately $793,000.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of UP Fintech by 527.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock valued at $30,000 after acquiring an additional 3,901 shares during the period. Deutsche Bank AG acquired a new position in shares of UP Fintech in the 4th quarter valued at $38,000. Tairen Capital Ltd purchased a new stake in UP Fintech in the fourth quarter valued at $68,000. Bingham Private Wealth LLC purchased a new stake in UP Fintech in the first quarter valued at $90,000. Finally, GAMMA Investing LLC boosted its holdings in UP Fintech by 17.4% in the first quarter. GAMMA Investing LLC now owns 10,728 shares of the company's stock valued at $92,000 after purchasing an additional 1,592 shares during the last quarter. 9.03% of the stock is owned by institutional investors and hedge funds.

UP Fintech Stock Performance

NASDAQ:TIGR traded down $0.39 during mid-day trading on Tuesday, hitting $9.84. The company's stock had a trading volume of 1,861,448 shares, compared to its average volume of 6,177,280. UP Fintech Holding Limited has a 1 year low of $3.36 and a 1 year high of $14.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.96 and a beta of 0.67. The business's fifty day moving average is $9.23 and its two-hundred day moving average is $8.28.

UP Fintech (NASDAQ:TIGR - Get Free Report) last posted its earnings results on Friday, May 30th. The company reported $0.20 earnings per share (EPS) for the quarter. UP Fintech had a net margin of 18.11% and a return on equity of 13.19%. The business had revenue of $122.61 million for the quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TIGR shares. Wall Street Zen raised shares of UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Citigroup raised shares of UP Fintech from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.50 to $14.00 in a report on Tuesday, July 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $10.33.

About UP Fintech

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.