UP Fintech Holding Limited (NASDAQ:TIGR) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its holdings in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) by 2,631.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,620,968 shares of the company's stock after acquiring an additional 1,561,617 shares during the quarter. Millennium Management LLC owned approximately 0.88% of UP Fintech worth $10,471,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of UP Fintech by 527.2% during the fourth 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 during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of UP Fintech in the 4th quarter valued at approximately $34,000. Deutsche Bank AG purchased a new position in shares of UP Fintech in the 4th quarter valued at approximately $38,000. Burns Matteson Capital Management LLC acquired a new position in UP Fintech in the 4th quarter worth approximately $91,000. Finally, Alliance Wealth Advisors LLC UT purchased a new position in UP Fintech during the 4th quarter worth approximately $92,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TIGR has been the subject of a number of recent research reports. Citigroup raised shares of UP Fintech from a "sell" rating to a "neutral" rating and raised their price target for the stock from $5.80 to $9.50 in a research report on Wednesday, March 19th. Bank of America initiated coverage on shares of UP Fintech in a research report on Monday, March 17th. They set a "buy" rating for the company.

UP Fintech Stock Performance

Shares of NASDAQ TIGR traded down $0.29 during midday trading on Tuesday, reaching $8.46. 2,296,961 shares of the stock were exchanged, compared to its average volume of 7,116,857. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 42.30 and a beta of 0.70. UP Fintech Holding Limited has a twelve month low of $3.36 and a twelve month high of $14.48. The firm has a 50-day simple moving average of $8.23 and a two-hundred day simple moving average of $7.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

UP Fintech (NASDAQ:TIGR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.06. The business had revenue of $124.10 million for the quarter, compared to analysts' expectations of $73.60 million. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

UP Fintech Profile

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.