UP Fintech (NASDAQ:TIGR) Issues Earnings Results

UP Fintech (NASDAQ:TIGR) released its earnings results on Thursday. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08, RTT News reports. UP Fintech had a return on equity of 17.81% and a net margin of 24.18%.The firm had revenue of $175.16 million for the quarter, compared to analyst estimates of $132.76 million. During the same period in the previous year, the company earned $0.11 earnings per share.

UP Fintech Price Performance

Shares of TIGR stock opened at $9.01 on Friday. UP Fintech has a fifty-two week low of $5.64 and a fifty-two week high of $13.55. The stock’s 50-day moving average is $9.74 and its two-hundred day moving average is $9.94. The firm has a market cap of $1.66 billion, a P/E ratio of 13.86, a PEG ratio of 0.57 and a beta of 0.37.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TIGR. Jefferies Financial Group initiated coverage on UP Fintech in a research report on Monday, September 29th. They set a “buy” rating and a $12.00 price objective for the company. Wall Street Zen downgraded UP Fintech from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Citigroup reiterated a “buy” rating on shares of UP Fintech in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a research report on Wednesday, October 8th. Finally, UBS Group assumed coverage on shares of UP Fintech in a research note on Thursday, October 23rd. They set a “buy” rating and a $13.10 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

Institutional Trading of UP Fintech

A number of institutional investors and hedge funds have recently made changes to their positions in TIGR. Cetera Investment Advisers increased its holdings in shares of UP Fintech by 2.8% during the 2nd quarter. Cetera Investment Advisers now owns 50,173 shares of the company’s stock valued at $484,000 after acquiring an additional 1,385 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of UP Fintech in the second quarter valued at approximately $33,000. Barclays PLC lifted its stake in shares of UP Fintech by 3.8% in the third quarter. Barclays PLC now owns 127,034 shares of the company’s stock worth $1,355,000 after buying an additional 4,599 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of UP Fintech by 60.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,000 shares of the company’s stock worth $171,000 after buying an additional 6,000 shares during the period. Finally, Quarry LP acquired a new position in UP Fintech in the 3rd quarter valued at $121,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.