Short Interest in UP Fintech Holding Limited (NASDAQ:TIGR) Drops By 27.0%

UP Fintech Holding Limited (NASDAQ:TIGR) saw a large decline in short interest in January. As of January 15th, there was short interest totalling 5,240,000 shares, a decline of 27.0% from the December 31st total of 7,180,000 shares. Based on an average trading volume of 7,250,000 shares, the days-to-cover ratio is presently 0.7 days.

UP Fintech Stock Performance

Shares of UP Fintech stock traded down $0.25 during mid-day trading on Friday, hitting $7.05. 4,053,851 shares of the stock were exchanged, compared to its average volume of 3,882,581. The company has a market capitalization of $1.30 billion, a P/E ratio of 35.25 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day simple moving average of $6.62 and a 200 day simple moving average of $5.69. UP Fintech has a 12 month low of $3.10 and a 12 month high of $14.48.

Analyst Ratings Changes

TIGR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target for the company. China Renaissance upgraded UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price target for the company in a report on Thursday, October 24th. Finally, Citigroup restated a “sell” rating and set a $5.50 price objective (up from $5.00) on shares of UP Fintech in a research note on Tuesday, October 22nd.

Hedge Funds Weigh In On UP Fintech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Truist Financial Corp purchased a new stake in UP Fintech during the fourth quarter worth about $116,000. Nkcfo LLC purchased a new stake in shares of UP Fintech during the 4th quarter worth approximately $323,000. Burns Matteson Capital Management LLC bought a new stake in shares of UP Fintech in the 4th quarter worth approximately $91,000. Alliance Wealth Advisors LLC UT purchased a new position in UP Fintech in the fourth quarter valued at approximately $92,000. Finally, Blue Trust Inc. grew its holdings in UP Fintech by 110.7% during the fourth quarter. Blue Trust Inc. now owns 30,876 shares of the company’s stock valued at $199,000 after purchasing an additional 16,219 shares during the period. 9.03% of the stock is owned by hedge funds and other institutional investors.

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.