UP Fintech Holding Limited $TIGR Shares Acquired by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in UP Fintech Holding Limited by 48%, acquiring an additional 777,776 shares to own approximately 2.4 million shares valued at $20.6 million.
• Several institutional investors, including Two Sigma Investments and BNP Paribas Financial Markets, have significantly raised their holdings in UP Fintech, reflecting growing confidence in the company's prospects.
• Analysts have recently upgraded their ratings for UP Fintech, with Citigroup raising its price target from $9.50 to $14.00, indicating positive sentiment toward the stock.

Millennium Management LLC raised its stake in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) by 48.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,398,744 shares of the company's stock after buying an additional 777,776 shares during the quarter. Millennium Management LLC owned approximately 1.30% of UP Fintech worth $20,605,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in 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 buying an additional 3,901 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of UP Fintech in the 4th quarter valued at $38,000. Tairen Capital Ltd acquired a new position in shares of UP Fintech in the 4th quarter valued at $68,000. Bingham Private Wealth LLC acquired a new position in shares of UP Fintech in the 1st quarter valued at $90,000. Finally, GAMMA Investing LLC lifted its stake in shares of UP Fintech by 17.4% in the 1st 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 currently owned by hedge funds and other institutional investors.

UP Fintech Stock Performance

TIGR stock traded down $0.15 during mid-day trading on Thursday, reaching $10.90. The company had a trading volume of 5,936,405 shares, compared to its average volume of 7,190,524. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.72 and a beta of 0.64. The firm has a fifty day simple moving average of $10.94 and a 200 day simple moving average of $9.26. UP Fintech Holding Limited has a fifty-two week low of $3.57 and a fifty-two week high of $14.48.

Wall Street Analysts Forecast Growth

TIGR has been the topic of several recent analyst reports. Citigroup raised 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 research note on Tuesday, July 22nd. Wall Street Zen raised UP Fintech from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, UP Fintech has a consensus rating of "Buy" and a consensus 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.