Short Interest in UP Fintech Holding Limited (NASDAQ:TIGR) Drops By 20.9%

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,160,000 shares, a decrease of 20.9% from the February 13th total of 6,520,000 shares. Based on an average daily volume of 7,100,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 5.7% of the company's shares are sold short.

Analysts Set New Price Targets

Several analysts recently issued reports on TIGR shares. Bank of America assumed coverage on shares of UP Fintech in a report on Monday. They issued a "buy" rating on the stock. Citigroup upgraded shares of UP Fintech from a "sell" rating to a "neutral" rating and lifted their price target for the company from $5.80 to $9.50 in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of UP Fintech in a report on Thursday, January 2nd. They issued a "buy" rating and a $9.40 price objective on the stock.

UP Fintech Stock Performance

UP Fintech stock remained flat at $8.86 during midday trading on Friday. 6,485,476 shares of the company's stock traded hands, compared to its average volume of 6,369,744. The business has a 50-day moving average price of $7.39 and a 200 day moving average price of $6.59. UP Fintech has a 52 week low of $3.10 and a 52 week high of $14.48. The stock has a market cap of $1.64 billion, a PE ratio of 44.30 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. 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 boosted its position in UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company's stock worth $11,743,000 after acquiring an additional 1,617,702 shares during the last quarter. Millennium Management LLC grew its stake 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 worth $10,471,000 after acquiring an additional 1,561,617 shares during the period. Contrarius Group Holdings Ltd acquired a new position in UP Fintech in the 4th quarter valued at $8,105,000. Finally, Two Sigma Advisers LP lifted its stake in shares of UP Fintech by 841.6% during the 4th 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. Institutional investors and hedge funds own 9.03% of the company's stock.

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.