UP Fintech Target of Unusually Large Options Trading (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors bought 93,379 call options on the stock. This represents an increase of 159% compared to the average volume of 36,116 call options.

UP Fintech Stock Performance

TIGR traded up $1.82 during mid-day trading on Wednesday, reaching $9.95. 36,425,547 shares of the company traded hands, compared to its average volume of 7,383,797. The company's fifty day moving average price is $8.43 and its 200-day moving average price is $7.74. The stock has a market capitalization of $1.84 billion, a P/E ratio of 22.11, a P/E/G ratio of 0.73 and a beta of 0.64. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.23. UP Fintech has a 52-week low of $3.36 and a 52-week high of $14.48.

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

Institutional Trading of UP Fintech

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in shares of UP Fintech by 818.7% during the 1st 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 during the last quarter. Millennium Management LLC raised its holdings in UP Fintech by 48.0% in the 1st quarter. Millennium Management LLC now owns 2,398,744 shares of the company's stock worth $20,605,000 after purchasing an additional 777,776 shares during the period. Eschler Asset Management LLP purchased a new position in UP Fintech during the first quarter valued at $1,031,000. Vident Advisory LLC lifted its position in UP Fintech by 20.7% during the first 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 in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in UP Fintech during the first quarter valued at about $9,467,000. 9.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

About UP Fintech

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.