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

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 7,590,000 shares, an increase of 88.8% from the September 30th total of 4,020,000 shares. Based on an average trading volume of 11,870,000 shares, the days-to-cover ratio is currently 0.6 days.

UP Fintech Stock Performance

Shares of NASDAQ TIGR traded up $0.05 during midday trading on Friday, reaching $6.19. 10,469,322 shares of the company were exchanged, compared to its average volume of 4,492,261. The stock has a market cap of $1.03 billion, a P/E ratio of 26.91 and a beta of 0.93. UP Fintech has a 1 year low of $3.10 and a 1 year high of $14.48. The stock has a fifty day simple moving average of $5.38 and a 200 day simple moving average of $4.52. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its earnings results on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). UP Fintech had a net margin of 8.59% and a return on equity of 5.35%. The company had revenue of $87.44 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TIGR. Marshall Wace LLP increased its position in UP Fintech by 52.8% during the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company's stock worth $4,671,000 after purchasing an additional 384,213 shares during the period. Russell Investments Group Ltd. raised its position in UP Fintech by 6,367.8% in the first quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company's stock worth $1,560,000 after acquiring an additional 446,572 shares in the last quarter. Sparta 24 Ltd. lifted its holdings in UP Fintech by 113.7% in the third quarter. Sparta 24 Ltd. now owns 3,148,128 shares of the company's stock valued at $16,811,000 after acquiring an additional 1,675,296 shares during the period. Virtu Financial LLC boosted its position in shares of UP Fintech by 61.3% during the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company's stock worth $93,000 after purchasing an additional 10,329 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company's stock worth $32,000 after purchasing an additional 2,104 shares during the period. 9.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TIGR has been the subject of a number of research analyst reports. Citigroup reaffirmed a "sell" rating and issued a $5.50 price target (up from $5.00) on shares of UP Fintech in a report on Tuesday. China Renaissance upgraded shares of UP Fintech from a "hold" rating to a "buy" rating and set a $7.58 target price for the company in a report on Thursday.

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.