Quantbot Technologies LP Buys 70,362 Shares of UP Fintech Holding Limited $TIGR

Key Points

• Quantbot Technologies LP has significantly increased its stake in UP Fintech Holding Limited by 213.3%, owning 103,352 shares worth approximately $888,000 following a purchase of 70,362 shares.
• UP Fintech's stock price saw a 13.2% increase recently, opening at $12.71, with a market capitalization of $2.35 billion.
• Analysts have mixed ratings on UP Fintech, with Citigroup upgrading it to a "buy" and setting a price target of $14.00, while Wall Street Zen downgraded it to a "hold."

Quantbot Technologies LP raised its position in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) by 213.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,352 shares of the company's stock after buying an additional 70,362 shares during the period. Quantbot Technologies LP owned approximately 0.06% of UP Fintech worth $888,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of 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 worth $30,000 after purchasing an additional 3,901 shares during the last quarter. Deutsche Bank AG bought a new position in UP Fintech in the fourth quarter worth about $38,000. Tairen Capital Ltd bought a new position in UP Fintech in the fourth quarter worth about $68,000. Bingham Private Wealth LLC bought a new position in UP Fintech in the first quarter worth about $90,000. Finally, GAMMA Investing LLC lifted its holdings in UP Fintech by 17.4% in the first quarter. GAMMA Investing LLC now owns 10,728 shares of the company's stock worth $92,000 after acquiring an additional 1,592 shares during the last quarter. Institutional investors own 9.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TIGR. Citigroup upgraded shares of UP Fintech from a "neutral" rating to a "buy" rating and raised their price target for the company from $9.50 to $14.00 in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of UP Fintech from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, UP Fintech currently has an average rating of "Buy" and a consensus target price of $10.33.

UP Fintech Price Performance

Shares of NASDAQ TIGR traded up $1.24 during mid-day trading on Thursday, reaching $12.81. 11,998,632 shares of the company traded hands, compared to its average volume of 6,227,374. UP Fintech Holding Limited has a fifty-two week low of $3.39 and a fifty-two week high of $14.48. 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 firm has a market cap of $2.37 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. The stock has a fifty day simple moving average of $10.12 and a 200-day simple moving average of $8.82.

UP Fintech (NASDAQ:TIGR - Get Free Report) last posted its quarterly earnings results on Friday, May 30th. The company reported $0.20 earnings per share (EPS) for the quarter. UP Fintech had a net margin of 18.11% and a return on equity of 13.19%. The firm had revenue of $122.61 million for the quarter.

UP Fintech Company 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.