UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report) shares saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. 4,301,050 shares changed hands during trading, a decline of 31% from the previous session's volume of 6,197,851 shares.The stock last traded at $9.16 and had previously closed at $7.97.
The company reported $0.17 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 company had revenue of $124.10 million during the quarter, compared to the consensus estimate of $73.60 million.
Analysts Set New Price Targets
Several brokerages have recently commented on TIGR. Citigroup upgraded UP Fintech from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $5.80 to $9.50 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a research report on Thursday, January 2nd. They set a "buy" rating and a $9.40 price target on the stock. Finally, Bank of America initiated coverage on shares of UP Fintech in a research report on Monday, March 17th. They set a "buy" rating on the stock.
Check Out Our Latest Stock Analysis on UP Fintech
Hedge Funds Weigh In On UP Fintech
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in UP Fintech by 527.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock valued at $30,000 after buying an additional 3,901 shares during the period. SBI Securities Co. Ltd. bought a new position in UP Fintech in the 4th quarter valued at about $34,000. Deutsche Bank AG bought a new position in UP Fintech in the 4th quarter valued at about $38,000. GAMMA Investing LLC increased its holdings in UP Fintech by 51.5% in the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock valued at $59,000 after buying an additional 3,105 shares during the period. Finally, Tairen Capital Ltd bought a new position in UP Fintech in the 4th quarter valued at about $68,000. 9.03% of the stock is owned by institutional investors.
UP Fintech Stock Performance
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 stock has a market capitalization of $1.64 billion, a P/E ratio of 44.30 and a beta of 0.87. The firm's fifty day simple moving average is $7.45 and its 200 day simple moving average is $6.64.
About UP Fintech
(
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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.
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