Harvest Fund Management Co. Ltd Buys New Holdings in UP Fintech Holding Limited $TIGR

Key Points

• Harvest Fund Management purchased 300,000 shares of UP Fintech (NASDAQ: TIGR) in Q3, a position worth about $3.20 million and representing roughly 0.16% of the company.
• Several large institutions also upped exposure—Arrowstreet to about 5.41M shares, Bank of America to 2.28M, and Citigroup to 1.08M—leaving hedge funds and other institutional investors with approximately 9.03% ownership.
• TIGR trades near $7.30 with a $1.36B market cap and a 52-week range of $6.38–$13.55; analysts are mixed but the consensus is a "Moderate Buy" with an average target of $11.83 (ranging from Goldman $4.73 to Citi $17.50).

Harvest Fund Management Co. Ltd purchased a new position in shares of UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 300,000 shares of the company's stock, valued at approximately $3,198,000. Harvest Fund Management Co. Ltd owned about 0.16% of UP Fintech at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in UP Fintech by 66.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company's stock valued at $57,705,000 after purchasing an additional 2,161,023 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of UP Fintech by 122.6% during the second quarter. Bank of America Corp DE now owns 2,282,337 shares of the company's stock worth $22,025,000 after purchasing an additional 1,257,251 shares in the last quarter. Jump Financial LLC acquired a new position in shares of UP Fintech during the second quarter worth about $12,993,000. Canada Pension Plan Investment Board boosted its position in shares of UP Fintech by 15.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,274,250 shares of the company's stock worth $12,297,000 after buying an additional 172,200 shares during the period. Finally, Citigroup Inc. boosted its position in shares of UP Fintech by 2,580.9% in the third quarter. Citigroup Inc. now owns 1,077,258 shares of the company's stock worth $11,494,000 after buying an additional 1,037,076 shares during the period. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

UP Fintech Stock Down 0.7%

Shares of NASDAQ TIGR opened at $7.30 on Friday. UP Fintech Holding Limited has a fifty-two week low of $6.38 and a fifty-two week high of $13.55. The business has a 50 day moving average price of $8.47 and a two-hundred day moving average price of $9.52. The firm has a market cap of $1.36 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.22 and a beta of 0.43.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TIGR. Weiss Ratings reiterated a "hold (c)" rating on shares of UP Fintech in a research note on Wednesday, January 21st. The Goldman Sachs Group restated a "sell" rating and issued a $4.73 target price on shares of UP Fintech in a research note on Friday, December 5th. Finally, Citigroup raised their price target on shares of UP Fintech to $17.50 and gave the company a "buy" rating in a report on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.83.

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.

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