UP Fintech Sees Unusually Large Options Volume (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the target of unusually large options trading on Tuesday. Stock traders acquired 71,703 call options on the company. This represents an increase of approximately 88% compared to the typical daily volume of 38,050 call options.

Hedge Funds Weigh In On UP Fintech

Several hedge funds have recently bought and sold shares of TIGR. Marshall Wace LLP grew its holdings in shares of UP Fintech by 492.4% during the fourth quarter. Marshall Wace LLP now owns 5,599,514 shares of the company's stock worth $36,173,000 after buying an additional 4,654,351 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of UP Fintech by 808.5% during the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company's stock worth $11,743,000 after purchasing an additional 1,617,702 shares during the period. Millennium Management LLC grew its holdings in UP Fintech by 2,631.2% in the 4th quarter. Millennium Management LLC now owns 1,620,968 shares of the company's stock valued at $10,471,000 after buying an additional 1,561,617 shares during the period. Contrarius Group Holdings Ltd purchased a new position in shares of UP Fintech during the 4th quarter worth about $8,105,000. Finally, Two Sigma Advisers LP raised its stake in UP Fintech by 841.6% during the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company's stock worth $5,742,000 after purchasing an additional 794,500 shares during the period. Hedge funds and other institutional investors own 9.03% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research note on Thursday, January 2nd. They issued a "buy" rating and a $9.40 price objective for the company.

UP Fintech Price Performance

TIGR traded down $0.13 during midday trading on Friday, reaching $7.24. 6,254,806 shares of the company's stock were exchanged, compared to its average volume of 6,993,657. UP Fintech has a 1-year low of $3.10 and a 1-year high of $14.48. The stock has a market capitalization of $1.34 billion, a PE ratio of 36.20 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The business's 50-day moving average price is $7.10 and its 200 day moving average price is $6.18.

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 services.