UP Fintech Sees Unusually High Options Volume (NASDAQ:TIGR)

Key Points

• Options activity surged: Traders bought 18,185 UP Fintech call options, 49% above the typical volume of 12,164 contracts.
• Insider selling contrasted with new institutional interest: Director Jian Liu sold 9,333 shares worth about $42,932, reducing his stake by 12.96%. Meanwhile, several funds opened positions, though insiders still own 50.90% of the company versus 9.03% held by institutions and hedge funds.
• Analyst sentiment remains moderately bullish: Four analysts rate TIGR a Buy, one rates it Hold, and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $8.16. Shares recently traded at $5.04, down $0.42.

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the target of unusually large options trading on Thursday. Traders bought 18,185 call options on the company. This represents an increase of 49% compared to the typical volume of 12,164 call options.

Insiders Place Their Bets

In other UP Fintech news, Director Jian Liu sold 9,333 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $4.60, for a total value of $42,931.80. Following the completion of the sale, the director directly owned 62,665 shares of the company's stock, valued at approximately $288,259. This represents a 12.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 50.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in UP Fintech during the 2nd quarter worth $33,000. GeoWealth Management LLC purchased a new position in UP Fintech in the fourth quarter valued at approximately $35,000. Hsbc Holdings PLC bought a new position in shares of UP Fintech during the 1st quarter worth $67,000. AXQ Capital LP purchased a new position in UP Fintech in the 2nd quarter valued at approximately $72,000. Finally, Castleview Partners LLC bought a new stake in shares of UP Fintech during the 1st quarter valued at $74,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TIGR shares. Bank of America reissued a "buy" rating on shares of UP Fintech in a research note on Monday, June 1st. Wall Street Zen downgraded shares of UP Fintech from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Jefferies Financial Group reiterated a "buy" rating and set a $7.70 price objective on shares of UP Fintech in a research report on Thursday. Finally, Citigroup reduced their target price on UP Fintech to $7.10 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, UP Fintech has an average rating of "Moderate Buy" and an average price target of $8.16.

UP Fintech Price Performance

Shares of NASDAQ TIGR traded down $0.42 during mid-day trading on Thursday, hitting $5.04. 2,616,363 shares of the stock were exchanged, compared to its average volume of 3,430,564. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $955.13 million, a P/E ratio of 8.39 and a beta of 0.48. The stock's fifty day simple moving average is $4.77 and its two-hundred day simple moving average is $5.95. UP Fintech has a twelve month low of $4.00 and a twelve month high of $13.42.

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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