UP Fintech (NASDAQ:TIGR) Sees Large Volume Increase – Time to Buy?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) saw an uptick in trading volume on Monday . 2,562,413 shares were traded during mid-day trading, a decline of 44% from the previous session’s volume of 4,574,730 shares.The stock last traded at $6.71 and had previously closed at $6.48.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a report on Thursday, October 24th. Citigroup reaffirmed a “sell” rating and issued a $5.50 price objective (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd.

UP Fintech Trading Up 3.4 %

The company’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $4.67. The firm has a market cap of $1.24 billion, a PE ratio of 39.47 and a beta of 0.91. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $87.44 million during the quarter. UP Fintech had a return on equity of 5.35% and a net margin of 8.59%.

Institutional Trading of UP Fintech

Several institutional investors and hedge funds have recently made changes to their positions in TIGR. GSA Capital Partners LLP increased its stake in UP Fintech by 10.1% in the 3rd quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock worth $3,610,000 after buying an additional 62,145 shares during the period. Asset Management One Co. Ltd. grew its stake in UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after acquiring an additional 4,377 shares in the last quarter. Sparta 24 Ltd. increased its position in shares of UP Fintech by 113.7% during the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company’s stock worth $16,811,000 after acquiring an additional 1,675,296 shares during the period. Blue Trust Inc. raised its stake in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock valued at $78,000 after acquiring an additional 9,748 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of UP Fintech by 53.6% in the third quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after purchasing an additional 2,104 shares during the period. 9.03% of the stock is currently owned by institutional investors.

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.