UP Fintech (NASDAQ:TIGR) Sees Strong Trading Volume

UP Fintech Holding Limited (NASDAQ:TIGR) shares saw strong trading volume on Thursday . 665,398 shares traded hands during trading, a decline of 32% from the previous session’s volume of 982,007 shares.The stock last traded at $3.87 and had previously closed at $3.67.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their target price on UP Fintech from $8.01 to $6.22 and set a “buy” rating on the stock in a research note on Thursday, March 21st.

UP Fintech Price Performance

The stock’s 50 day simple moving average is $3.73 and its 200-day simple moving average is $4.07. The stock has a market capitalization of $611.95 million, a price-to-earnings ratio of 19.60 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 1.20.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings data on Wednesday, March 20th. The company reported ($0.01) earnings per share for the quarter. UP Fintech had a return on equity of 6.88% and a net margin of 11.95%. The firm had revenue of $69.98 million during the quarter.

Institutional Investors Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently made changes to their positions in TIGR. Acadian Asset Management LLC acquired a new position in UP Fintech in the third quarter worth about $2,896,000. Walleye Capital LLC bought a new position in shares of UP Fintech during the 3rd quarter worth approximately $1,886,000. GSA Capital Partners LLP boosted its stake in UP Fintech by 19.8% in the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock valued at $967,000 after buying an additional 46,394 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in UP Fintech in the third quarter valued at $1,071,000. Finally, Caxton Associates LP acquired a new position in UP Fintech during the third quarter worth $424,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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; and account management services.