UP Fintech Holding Limited (NASDAQ:TIGR) Sees Large Decrease in Short Interest

UP Fintech Holding Limited (NASDAQ:TIGR) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 4,410,000 shares, a drop of 19.4% from the March 15th total of 5,470,000 shares. Based on an average daily trading volume, of 7,530,000 shares, the short-interest ratio is currently 0.6 days. Currently, 4.9% of the company’s stock are sold short.

Institutional Trading of UP Fintech

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of UP Fintech by 17.4% during the 1st quarter. GAMMA Investing LLC now owns 10,728 shares of the company’s stock worth $92,000 after purchasing an additional 1,592 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in UP Fintech by 527.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after buying an additional 3,901 shares during the last quarter. Geode Capital Management LLC raised its position in UP Fintech by 5.2% during the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock worth $437,000 after acquiring an additional 4,082 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in UP Fintech in the fourth quarter valued at $34,000. Finally, Deutsche Bank AG bought a new position in shares of UP Fintech in the 4th quarter valued at about $38,000. Institutional investors own 9.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TIGR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price target for the company. Bank of America started coverage on UP Fintech in a report on Monday, March 17th. They set a “buy” rating for the company. Finally, Citigroup upgraded UP Fintech from a “sell” rating to a “neutral” rating and boosted their price target for the company from $5.80 to $9.50 in a report on Wednesday, March 19th.

UP Fintech Price Performance

NASDAQ TIGR opened at $6.64 on Friday. The firm’s 50 day moving average is $7.79 and its 200-day moving average is $7.16. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.23 billion, a PE ratio of 33.20 and a beta of 0.65. UP Fintech has a 12-month low of $3.14 and a 12-month high of $14.48.

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

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.