Eschler Asset Management LLP Acquires New Position in UP Fintech Holding Limited $TIGR

Key Points

• Eschler Asset Management LLP has acquired a new stake in UP Fintech Holding Limited, purchasing 119,982 shares valued at approximately $1.03 million, which now represents about 2.6% of its portfolio.
• Multiple institutional investors, including Harbour Capital Advisors and Point72 Asset Management, have also made significant investments in UP Fintech, with 9.03% of the stock being owned by institutional investors.
• Analysts have recently upgraded UP Fintech from "neutral" to "buy," increasing the target price to $14.00, indicating strong market confidence in the company’s future performance.

Eschler Asset Management LLP bought a new position in shares of UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 119,982 shares of the company's stock, valued at approximately $1,031,000. UP Fintech makes up approximately 2.6% of Eschler Asset Management LLP's investment portfolio, making the stock its 12th biggest position. Eschler Asset Management LLP owned approximately 0.06% of UP Fintech at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Investments LP grew its stake in shares of UP Fintech by 808.5% in the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company's stock valued at $11,743,000 after buying an additional 1,617,702 shares in the last quarter. Millennium Management LLC raised its stake in UP Fintech by 2,631.2% during the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company's stock worth $10,471,000 after acquiring an additional 1,561,617 shares in the last quarter. Sparta 24 Ltd. increased its stake in shares of UP Fintech by 48.0% in the first quarter. Sparta 24 Ltd. now owns 3,657,104 shares of the company's stock valued at $31,415,000 after buying an additional 1,186,137 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of UP Fintech in the first quarter valued at approximately $9,467,000. Finally, Two Sigma Advisers LP boosted its holdings in UP Fintech by 841.6% in the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company's stock valued at $5,742,000 after acquiring an additional 794,500 shares during the last quarter. Institutional investors own 9.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TIGR shares. Citigroup raised UP Fintech from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.50 to $14.00 in a research report on Tuesday, July 22nd. Wall Street Zen upgraded UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $10.33.

UP Fintech Stock Performance

Shares of TIGR stock traded down $0.21 during trading hours on Tuesday, reaching $12.04. The company had a trading volume of 5,366,077 shares, compared to its average volume of 6,173,532. UP Fintech Holding Limited has a 12-month low of $3.39 and a 12-month high of $14.48. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.80 and a beta of 0.64. The stock has a fifty day moving average of $10.70 and a 200-day moving average of $9.07.

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.