UP Fintech Holding Limited (NASDAQ:TIGR) Sees Large Decrease in Short Interest

UP Fintech Holding Limited (NASDAQ:TIGR) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 6,070,000 shares, a decrease 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 presently 0.4 days.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TIGR shares. Citigroup reiterated a “sell” rating and issued a $5.50 price objective (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 price objective on the stock in a research report on Thursday, October 24th.

UP Fintech Trading Down 2.8 %

TIGR opened at $5.51 on Friday. The stock has a market cap of $1.02 billion, a PE ratio of 27.95 and a beta of 0.91. The business has a 50 day moving average of $6.07 and a 200-day moving average of $4.81. UP Fintech has a 52 week low of $3.10 and a 52 week high of $14.48. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32.

UP Fintech (NASDAQ:TIGR) last released its earnings results on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). UP Fintech had a return on equity of 6.22% and a net margin of 9.14%. The business had revenue of $87.44 million during the quarter.

Hedge Funds Weigh In On UP Fintech

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of UP Fintech by 53.6% in 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. Headlands Technologies LLC bought a new stake in shares of UP Fintech in the 1st quarter worth $34,000. Blue Trust Inc. raised its stake in shares of UP Fintech by 198.6% in the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of UP Fintech during the second quarter valued at $78,000. Finally, Asset Management One Co. Ltd. increased its holdings in UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after buying an additional 4,377 shares in the last quarter. 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.