UP Fintech Holding Limited (NASDAQ:TIGR) Sees Significant Decrease in Short Interest

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 4,410,000 shares, a decline of 19.4% from the March 15th total of 5,470,000 shares. Based on an average daily volume of 7,530,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 4.9% of the company's stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TIGR shares. Citigroup raised UP Fintech from a "sell" rating to a "neutral" rating and increased their target price for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th. Bank of America started coverage on UP Fintech in a research note on Monday, March 17th. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a "buy" rating and a $9.40 target price for the company.

Institutional Trading of UP Fintech

Several hedge funds have recently modified their holdings of TIGR. Tower Research Capital LLC TRC increased its holdings in shares of UP Fintech by 527.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock worth $30,000 after buying an additional 3,901 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of UP Fintech in the fourth quarter worth about $34,000. Deutsche Bank AG bought a new position in UP Fintech in the 4th quarter worth about $38,000. GAMMA Investing LLC increased its holdings in UP Fintech by 51.5% during the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock worth $59,000 after purchasing an additional 3,105 shares during the period. Finally, Tairen Capital Ltd bought a new stake in shares of UP Fintech in the fourth quarter valued at about $68,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Price Performance

Shares of TIGR traded up $0.27 during trading hours on Wednesday, reaching $7.40. 5,537,466 shares of the stock traded hands, compared to its average volume of 6,930,980. The company has a market cap of $1.37 billion, a P/E ratio of 37.00 and a beta of 0.65. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $7.73 and its two-hundred day moving average price is $7.10. UP Fintech has a 52-week low of $3.26 and a 52-week high of $14.48.

UP Fintech (NASDAQ:TIGR - Get Free Report) last issued its earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.06. The firm had revenue of $124.10 million during the quarter, compared to analyst estimates of $73.60 million. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%.

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.