UP Fintech Holding Limited (NASDAQ:TIGR) Short Interest Down 19.4% in March

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 4,410,000 shares, a decrease of 19.4% from the March 15th total of 5,470,000 shares. Based on an average daily trading volume, of 7,530,000 shares, the days-to-cover ratio is presently 0.6 days. Approximately 4.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup upgraded UP Fintech from a "sell" rating to a "neutral" rating and lifted their price target for the company from $5.80 to $9.50 in a research report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a report on Thursday, January 2nd. They set a "buy" rating and a $9.40 price target on the stock. Finally, Bank of America initiated coverage on shares of UP Fintech in a report on Monday, March 17th. They issued a "buy" rating for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of UP Fintech by 4.8% during the third quarter. State Street Corp now owns 742,452 shares of the company's stock valued at $3,965,000 after acquiring an additional 34,186 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in UP Fintech in the 3rd quarter valued at $121,000. Geode Capital Management LLC raised its stake in UP Fintech by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 81,842 shares of the company's stock valued at $437,000 after purchasing an additional 4,082 shares during the last quarter. Virtu Financial LLC purchased a new position in UP Fintech in the 3rd quarter valued at $539,000. Finally, JPMorgan Chase & Co. boosted its stake in UP Fintech by 49.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 75,198 shares of the company's stock worth $402,000 after purchasing an additional 24,726 shares during the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Price Performance

Shares of TIGR stock traded up $0.09 during trading hours on Friday, hitting $7.68. 3,525,983 shares of the company's stock were exchanged, compared to its average volume of 6,927,123. UP Fintech has a fifty-two week low of $3.26 and a fifty-two week high of $14.48. The firm has a market cap of $1.42 billion, a P/E ratio of 38.43 and a beta of 0.65. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $7.67 and a two-hundred day moving average of $7.08.

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

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.