UP Fintech Holding Limited (NASDAQ:TIGR) Sees Large Increase in Short Interest

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 6,940,000 shares, an increase of 26.0% from the April 30th total of 5,510,000 shares. Based on an average trading volume of 6,070,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 7.7% of the shares of the stock are short sold.

UP Fintech Stock Up 2.7%

Shares of TIGR traded up $0.22 during mid-day trading on Friday, reaching $8.44. The company's stock had a trading volume of 2,380,390 shares, compared to its average volume of 7,194,131. The business has a fifty day moving average of $8.14 and a 200 day moving average of $7.51. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 42.20 and a beta of 0.64. UP Fintech has a 1 year low of $3.36 and a 1 year high of $14.48. 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 released its earnings results on Friday, May 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The company had revenue of $122.61 million during the quarter. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised UP Fintech from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Citigroup upgraded UP Fintech from a "sell" rating to a "neutral" rating and increased their target price for the company from $5.80 to $9.50 in a report on Wednesday, March 19th. Finally, Bank of America began coverage on UP Fintech in a report on Monday, March 17th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, UP Fintech presently has an average rating of "Moderate Buy" and an average price target of $8.83.

Institutional Trading of UP Fintech

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in shares of UP Fintech by 818.7% during the first quarter. Acadian Asset Management LLC now owns 126,596 shares of the company's stock worth $1,085,000 after acquiring an additional 112,816 shares in the last quarter. Millennium Management LLC raised its holdings in shares of UP Fintech by 48.0% during the first quarter. Millennium Management LLC now owns 2,398,744 shares of the company's stock worth $20,605,000 after acquiring an additional 777,776 shares in the last quarter. Eschler Asset Management LLP purchased a new stake in shares of UP Fintech during the first quarter worth $1,031,000. Vident Advisory LLC raised its holdings in shares of UP Fintech by 20.7% during the first quarter. Vident Advisory LLC now owns 89,490 shares of the company's stock worth $769,000 after acquiring an additional 15,318 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of UP Fintech during the first quarter worth $9,467,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

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.