UP Fintech (NASDAQ:TIGR) Sees Large Volume Increase – Still a Buy?

UP Fintech Holding Limited (NASDAQ:TIGR) shares saw an uptick in trading volume on Monday . 6,340,392 shares changed hands during trading, an increase of 30% from the previous session’s volume of 4,866,614 shares.The stock last traded at $10.0250 and had previously closed at $9.72.

Wall Street Analysts Forecast Growth

TIGR has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, October 8th. Jefferies Financial Group started coverage on UP Fintech in a report on Monday, September 29th. They set a “buy” rating and a $12.00 target price on the stock. Citigroup boosted their target price on UP Fintech to $17.50 and gave the company a “buy” rating in a research note on Friday, December 5th. UBS Group initiated coverage on UP Fintech in a research report on Thursday, October 23rd. They set a “buy” rating and a $13.10 price target on the stock. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $4.73 price objective on shares of UP Fintech in a report on Friday, December 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, UP Fintech has an average rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Price Performance

The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 12.43 and a beta of 0.29. The firm has a 50-day moving average price of $9.37 and a two-hundred day moving average price of $10.12.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings results on Thursday, December 4th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.08. The company had revenue of $175.16 million during the quarter, compared to analysts’ expectations of $132.76 million. UP Fintech had a net margin of 27.42% and a return on equity of 21.09%. During the same period last year, the business earned $0.11 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of UP Fintech in the 2nd quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd grew its position in shares of UP Fintech by 205.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 5,094 shares of the company’s stock valued at $49,000 after acquiring an additional 3,427 shares during the period. First Horizon Advisors Inc. bought a new position in shares of UP Fintech in the 2nd quarter valued at about $52,000. SBI Securities Co. Ltd. increased its stake in shares of UP Fintech by 22.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock worth $62,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of UP Fintech in the 3rd quarter valued at about $66,000. 9.03% of the stock is currently owned by institutional investors.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.