Dorsey Wright & Associates Cuts Holdings in UP Fintech Holding Limited (NASDAQ:TIGR)

Dorsey Wright & Associates lessened its holdings in shares of UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 359,464 shares of the company's stock after selling 39,755 shares during the period. Dorsey Wright & Associates owned 0.19% of UP Fintech worth $3,088,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Harbour Capital Advisors LLC bought a new stake in UP Fintech in the first quarter valued at $575,000. Point72 Asset Management L.P. bought a new stake in UP Fintech in the fourth quarter valued at $796,000. Jump Financial LLC bought a new stake in UP Fintech in the fourth quarter valued at $2,069,000. Northern Trust Corp increased its stake in UP Fintech by 53.8% in the fourth quarter. Northern Trust Corp now owns 180,679 shares of the company's stock valued at $1,167,000 after purchasing an additional 63,232 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in UP Fintech by 908.7% in the first quarter. GAMMA Investing LLC now owns 92,154 shares of the company's stock valued at $792,000 after purchasing an additional 83,018 shares in the last quarter. Institutional investors and hedge funds own 9.03% of the company's stock.

Wall Street Analyst Weigh In

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

UP Fintech Stock Down 2.4%

Shares of NASDAQ:TIGR traded down $0.26 during midday trading on Friday, hitting $10.57. 4,053,283 shares of the company's stock were exchanged, compared to its average volume of 6,431,697. 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 50 day moving average price of $9.21 and a 200-day moving average price of $8.23. The company has a market cap of $1.95 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 0.96 and a beta of 0.67. UP Fintech Holding Limited has a 12 month low of $3.36 and a 12 month high of $14.48.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly earnings results on Friday, May 30th. The company reported $0.20 earnings per share 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.

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.