UP Fintech (NASDAQ:TIGR) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

UP Fintech Holding Limited (NASDAQ:TIGR) shares saw strong trading volume on Tuesday following a better than expected earnings announcement. 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 net margin of 9.14% and a return on equity of 6.09%. The firm had revenue of $124.10 million for the quarter, compared to the consensus estimate of $73.60 million.

Analyst Ratings Changes

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

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP raised its holdings in UP Fintech by 492.4% in the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after acquiring an additional 4,654,351 shares during the last quarter. Two Sigma Investments LP grew its position in shares of UP Fintech by 808.5% in the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock valued at $11,743,000 after purchasing an additional 1,617,702 shares in the last quarter. Millennium Management LLC boosted its stake in UP Fintech by 2,631.2% during the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock worth $10,471,000 after buying an additional 1,561,617 shares during the last quarter. Contrarius Group Holdings Ltd purchased a new stake in UP Fintech in the 4th quarter valued at $8,105,000. Finally, Two Sigma Advisers LP increased its stake in shares of UP Fintech by 841.6% in the 4th quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after acquiring an additional 794,500 shares during the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Stock Performance

The firm has a fifty day moving average price of $7.33 and a 200 day moving average price of $6.57. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.78 billion, a PE ratio of 48.30 and a beta of 0.87.

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.