Renaissance Technologies LLC Acquires 57,257 Shares of UP Fintech Holding Limited (NASDAQ:TIGR)

Renaissance Technologies LLC grew its holdings in UP Fintech Holding Limited (NASDAQ:TIGR) by 162.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,441 shares of the company’s stock after acquiring an additional 57,257 shares during the period. Renaissance Technologies LLC owned 0.06% of UP Fintech worth $388,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in UP Fintech by 6,367.8% during the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock worth $1,560,000 after acquiring an additional 446,572 shares during the last quarter. Virtu Financial LLC increased its position in shares of UP Fintech by 61.3% during the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock worth $93,000 after purchasing an additional 10,329 shares in the last quarter. Cetera Advisors LLC bought a new stake in UP Fintech during the 1st quarter worth approximately $117,000. GSA Capital Partners LLP increased its holdings in UP Fintech by 19.8% during the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock valued at $967,000 after purchasing an additional 46,394 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in UP Fintech in the second quarter worth $78,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup decreased their price target on UP Fintech from $6.49 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd.

UP Fintech Price Performance

NASDAQ:TIGR opened at $8.11 on Friday. The stock’s 50-day simple moving average is $4.66 and its 200 day simple moving average is $4.24. UP Fintech Holding Limited has a 52-week low of $3.10 and a 52-week high of $14.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $1.36 billion, a P/E ratio of 35.26 and a beta of 0.93.

UP Fintech (NASDAQ:TIGR) last announced its quarterly earnings results on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $87.44 million during the quarter. UP Fintech had a net margin of 8.59% and a return on equity of 5.35%.

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; and account management services.