UP Fintech (NASDAQ:TIGR) Sees Large Volume Increase – Here’s Why

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) saw an uptick in trading volume on Monday . 6,340,392 shares changed hands during trading, an increase of 30% from the previous session’s volume of 4,866,614 shares.The stock last traded at $10.0250 and had previously closed at $9.72.

Analyst Upgrades and Downgrades

TIGR has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “sell” rating and set a $4.73 target price on shares of UP Fintech in a research note on Friday, December 5th. UBS Group started coverage on UP Fintech in a report on Thursday, October 23rd. They set a “buy” rating and a $13.10 price target for the company. Wall Street Zen downgraded shares of UP Fintech from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Jefferies Financial Group started coverage on shares of UP Fintech in a research report on Monday, September 29th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Citigroup raised their target price on shares of UP Fintech to $17.50 and gave the stock a “buy” rating in a research note on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

UP Fintech Trading Up 6.2%

The company has a 50 day moving average of $9.37 and a 200-day moving average of $10.12. The firm has a market capitalization of $1.91 billion, a P/E ratio of 12.43 and a beta of 0.29.

UP Fintech (NASDAQ:TIGR) last posted its earnings results on Thursday, December 4th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. UP Fintech had a return on equity of 21.09% and a net margin of 27.42%.The company had revenue of $175.16 million during the quarter, compared to the consensus estimate of $132.76 million. During the same quarter last year, the firm earned $0.11 earnings per share.

Institutional Investors Weigh In On UP Fintech

Several institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. grew its position in UP Fintech by 22.7% during the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock worth $62,000 after buying an additional 1,179 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of UP Fintech by 11.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 12,906 shares of the company’s stock valued at $131,000 after acquiring an additional 1,364 shares during the period. Cetera Investment Advisers grew its holdings in shares of UP Fintech by 2.8% during the 2nd quarter. Cetera Investment Advisers now owns 50,173 shares of the company’s stock worth $484,000 after purchasing an additional 1,385 shares in the last quarter. Shilanski & Associates Inc. increased its position in shares of UP Fintech by 5.0% in the third quarter. Shilanski & Associates Inc. now owns 31,033 shares of the company’s stock worth $331,000 after purchasing an additional 1,487 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of UP Fintech by 14.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,517 shares of the company’s stock worth $130,000 after purchasing an additional 1,676 shares during the period. 9.03% of the stock is currently owned by institutional investors.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.