UP Fintech (NASDAQ:TIGR) Trading Up 5.2% - Here's What Happened

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price shot up 5.2% on Wednesday . The stock traded as high as $8.89 and last traded at $8.85. 2,191,069 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 7,181,430 shares. The stock had previously closed at $8.41.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TIGR. Wall Street Zen upgraded shares of UP Fintech from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Citigroup raised shares of UP Fintech from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $5.80 to $9.50 in a report on Wednesday, March 19th. Finally, Bank of America started coverage on shares of UP Fintech in a report on Monday, March 17th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $8.83.

UP Fintech Stock Down 3.7%

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average is $8.24 and its 200-day moving average is $7.62. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 41.55 and a beta of 0.64.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its quarterly earnings data on Friday, May 30th. The company reported $0.20 earnings per share for the quarter. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The firm had revenue of $122.61 million for the quarter.

Institutional Trading of UP Fintech

A number of large investors have recently added to or reduced their stakes in TIGR. Point72 Asset Management L.P. bought a new stake in UP Fintech during the 4th quarter worth approximately $796,000. Jump Financial LLC purchased a new stake in UP Fintech during the 4th quarter valued at $2,069,000. Nkcfo LLC purchased a new stake in UP Fintech during the 4th quarter valued at $323,000. Northern Trust Corp raised its holdings in UP Fintech by 53.8% in the 4th quarter. Northern Trust Corp now owns 180,679 shares of the company's stock worth $1,167,000 after purchasing an additional 63,232 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in UP Fintech in the 4th quarter worth $213,000. Hedge funds and other institutional investors 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.