UP Fintech (NASDAQ:TIGR) Stock Price Up 4% - Here's What Happened

UP Fintech Holding Limited (NASDAQ:TIGR - Get Free Report)'s share price traded up 4% during trading on Tuesday . The company traded as high as $9.26 and last traded at $9.19. 2,679,213 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 6,402,810 shares. The stock had previously closed at $8.83.

Wall Street Analyst Weigh In

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

UP Fintech Stock Performance

The firm has a market cap of $1.60 billion, a PE ratio of 43.35 and a beta of 0.87. The business has a 50 day simple moving average of $7.71 and a two-hundred day simple moving average of $6.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

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

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Institutional Trading of UP Fintech

A number of large investors have recently modified their holdings of TIGR. GAMMA Investing LLC raised its position in UP Fintech by 51.5% during the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company's stock valued at $59,000 after purchasing an additional 3,105 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of UP Fintech by 527.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock valued at $30,000 after acquiring an additional 3,901 shares in the last quarter. Geode Capital Management LLC lifted its stake in UP Fintech by 5.2% in the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company's stock worth $437,000 after acquiring an additional 4,082 shares during the period. SBI Securities Co. Ltd. bought a new position in UP Fintech during the 4th quarter worth about $34,000. Finally, Deutsche Bank AG purchased a new position in UP Fintech during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 9.03% of the company's stock.

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.