Short Interest in UP Fintech Holding Limited (NASDAQ:TIGR) Declines By 20.0%

UP Fintech Holding Limited (NASDAQ:TIGR) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 6,070,000 shares, a decline of 20.0% from the October 15th total of 7,590,000 shares. Based on an average daily volume of 13,600,000 shares, the short-interest ratio is currently 0.4 days.

UP Fintech Trading Up 3.1 %

Shares of TIGR traded up $0.17 during trading hours on Friday, reaching $5.68. 4,509,029 shares of the company traded hands, compared to its average volume of 4,832,080. The stock’s fifty day moving average price is $6.15 and its 200 day moving average price is $4.83. The company has a current ratio of 1.11, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. UP Fintech has a 12-month low of $3.10 and a 12-month high of $14.48. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 28.40 and a beta of 0.91.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The firm had revenue of $87.44 million during the quarter.

Institutional Trading of UP Fintech

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after purchasing an additional 2,104 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of UP Fintech by 5.2% during the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock valued at $437,000 after buying an additional 4,082 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after buying an additional 4,377 shares in the last quarter. Blue Trust Inc. grew its position in shares of UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after buying an additional 9,748 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of UP Fintech in the 1st quarter worth approximately $34,000. Institutional investors own 9.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. China Renaissance upgraded shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective for the company in a research report on Thursday, October 24th. Citigroup reiterated a “sell” rating and set a $5.50 price objective (up previously from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd.

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.