UP Fintech (NASDAQ:TIGR) Sees Large Volume Increase After Strong Earnings

UP Fintech Holding Limited (NASDAQ:TIGR) saw unusually-strong trading volume on Tuesday following a better than expected earnings announcement. Approximately 4,301,050 shares were traded during mid-day trading, a decline of 31% from the previous session’s volume of 6,197,851 shares.The stock last traded at $9.16 and had previously closed at $7.97.

The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%. The business had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $73.60 million.

Analyst Ratings Changes

A number of analysts have recently issued reports on TIGR shares. Bank of America started coverage on UP Fintech in a report on Monday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price for the company. Finally, Citigroup raised UP Fintech from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $5.80 to $9.50 in a research report on Wednesday.

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new position in UP Fintech during the 3rd quarter worth approximately $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in UP Fintech by 66.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after acquiring an additional 81,300 shares in the last quarter. Virtu Financial LLC acquired a new position in UP Fintech during the 3rd quarter worth approximately $539,000. Nkcfo LLC acquired a new position in shares of UP Fintech in the 4th quarter valued at approximately $323,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of UP Fintech in the 4th quarter valued at approximately $742,000. 9.03% of the stock is owned by institutional investors and hedge funds.

UP Fintech Stock Performance

The stock has a 50-day simple moving average of $7.33 and a 200-day simple moving average of $6.57. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 48.30 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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.