UP Fintech (NASDAQ:TIGR) Sees Large Volume Increase on Strong Earnings

UP Fintech Holding Limited (NASDAQ:TIGR) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. The company had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $73.60 million. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Wall Street Analyst Weigh In

TIGR has been the subject of several research analyst reports. Bank of America assumed coverage on shares of UP Fintech in a research note on Monday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target on the stock. Finally, Citigroup raised UP Fintech from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $5.80 to $9.50 in a research note on Wednesday.

Institutional Investors Weigh In On UP Fintech

Large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new position in shares of UP Fintech in the third quarter worth $516,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in UP Fintech by 66.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after purchasing an additional 81,300 shares in the last quarter. Virtu Financial LLC purchased a new stake in UP Fintech during the 3rd quarter worth about $539,000. Nkcfo LLC acquired a new stake in UP Fintech in the 4th quarter valued at about $323,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of UP Fintech in the 4th quarter valued at about $742,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Stock Performance

The stock has a 50-day moving average price of $7.33 and a 200 day moving average price of $6.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 48.30 and a beta of 0.87.

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.