UP Fintech (NASDAQ:TIGR) Sees Strong Trading Volume – Here’s What Happened

UP Fintech Holding Limited (NASDAQ:TIGR) saw strong trading volume on Monday . 7,388,873 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 3,810,993 shares.The stock last traded at $8.19 and had previously closed at $8.62.

Wall Street Analyst Weigh In

Separately, Citigroup cut their price target on shares of UP Fintech from $6.49 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd.

UP Fintech Trading Down 13.1 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a 50-day moving average of $4.76 and a 200-day moving average of $4.29. The firm has a market capitalization of $1.25 billion, a P/E ratio of 32.91 and a beta of 0.93.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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%.

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in UP Fintech by 308.9% during the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock valued at $26,000 after purchasing an additional 5,804 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of UP Fintech during the first quarter valued at approximately $34,000. SG Americas Securities LLC purchased a new stake in UP Fintech in the second quarter worth $78,000. Virtu Financial LLC boosted its holdings in UP Fintech by 61.3% in the first quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock valued at $93,000 after acquiring an additional 10,329 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in UP Fintech during the 1st quarter valued at $117,000. 9.03% of the stock is 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; and account management services.