Investors Buy Large Volume of Put Options on UP Fintech (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the target of unusually large options trading on Monday. Investors acquired 57,173 put options on the company. This represents an increase of 53% compared to the typical daily volume of 37,456 put options.

UP Fintech Stock Performance

TIGR stock traded up $0.47 on Friday, reaching $8.90. The company's stock had a trading volume of 5,118,453 shares, compared to its average volume of 6,997,730. UP Fintech has a 52 week low of $3.36 and a 52 week high of $14.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $1.64 billion, a P/E ratio of 44.50 and a beta of 0.65. The firm has a fifty day moving average of $7.72 and a two-hundred day moving average of $7.08.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup upgraded UP Fintech from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $5.80 to $9.50 in a research report on Wednesday, March 19th. Bank of America began coverage on shares of UP Fintech in a research report on Monday, March 17th. They set a "buy" rating for the company.

Institutional Trading of UP Fintech

A number of hedge funds and other institutional investors have recently made changes to their positions in TIGR. State Street Corp increased its stake 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 period. Geode Capital Management LLC lifted its holdings in shares of UP Fintech by 5.2% in the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company's stock valued at $437,000 after buying an additional 4,082 shares during the period. Virtu Financial LLC bought a new position in UP Fintech during the third quarter valued at about $539,000. JPMorgan Chase & Co. grew its holdings in UP Fintech by 49.0% during the third quarter. JPMorgan Chase & Co. now owns 75,198 shares of the company's stock worth $402,000 after acquiring an additional 24,726 shares during the period. Finally, GAMMA Investing LLC grew its holdings in UP Fintech by 51.5% during the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock worth $59,000 after acquiring an additional 3,105 shares during the period. 9.03% of the stock is currently owned by 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.