UP Fintech (NASDAQ:TIGR) Shares Up 11.8% - Here's What Happened

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s stock price traded up 11.8% during trading on Friday . The company traded as high as $10.56 and last traded at $11.09. 1,441,660 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 7,738,650 shares. The stock had previously closed at $9.92.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.83.

UP Fintech Price Performance

The company has a market cap of $1.97 billion, a PE ratio of 23.60, a PEG ratio of 0.89 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50-day simple moving average is $9.05 and its 200 day simple moving average is $8.04.

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

Institutional Trading of UP Fintech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIGR. GAMMA Investing LLC boosted its position in shares of UP Fintech by 22.7% in the 2nd quarter. GAMMA Investing LLC now owns 13,168 shares of the company's stock valued at $127,000 after purchasing an additional 2,440 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of UP Fintech by 818.7% in the first quarter. Acadian Asset Management LLC now owns 126,596 shares of the company's stock valued at $1,085,000 after acquiring an additional 112,816 shares during the period. Millennium Management LLC boosted its holdings in shares of UP Fintech by 48.0% in the first quarter. Millennium Management LLC now owns 2,398,744 shares of the company's stock valued at $20,605,000 after acquiring an additional 777,776 shares during the period. Eschler Asset Management LLP purchased a new position in shares of UP Fintech during the first quarter worth approximately $1,031,000. Finally, Vident Advisory LLC raised its position in UP Fintech by 20.7% in the 1st quarter. Vident Advisory LLC now owns 89,490 shares of the company's stock valued at $769,000 after purchasing an additional 15,318 shares during the last quarter. Institutional investors and hedge funds own 9.03% of the company's stock.

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.

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