Renaissance Technologies LLC boosted its holdings in UP Fintech Holding Limited (NASDAQ:TIGR – Free Report) by 129.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,782,066 shares of the company’s stock after buying an additional 1,006,566 shares during the quarter. Renaissance Technologies LLC owned approximately 0.94% of UP Fintech worth $11,227,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Sparta 24 Ltd. increased its position in UP Fintech by 9.1% in the 1st quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock valued at $36,592,000 after acquiring an additional 482,607 shares during the period. Capital International Investors acquired a new position in shares of UP Fintech during the fourth quarter worth $47,855,000. Jupiter Asset Management Ltd. grew its stake in shares of UP Fintech by 157.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company’s stock worth $40,307,000 after purchasing an additional 2,577,459 shares during the last quarter. Contrarius Group Holdings Ltd bought a new stake in shares of UP Fintech in the fourth quarter worth $10,243,000. Finally, Prudential PLC increased its holdings in UP Fintech by 44.8% in the fourth quarter. Prudential PLC now owns 477,049 shares of the company’s stock valued at $4,561,000 after purchasing an additional 147,514 shares during the period. 9.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have commented on the company. Wall Street Zen downgraded UP Fintech from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a research report on Monday, April 20th. Citigroup reduced their target price on UP Fintech to $7.10 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Finally, Bank of America reissued a “buy” rating on shares of UP Fintech in a research report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.23.
Insider Activity at UP Fintech
In related news, Director Jian Liu sold 9,333 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $4.60, for a total transaction of $42,931.80. Following the completion of the sale, the director owned 62,665 shares of the company’s stock, valued at $288,259. This trade represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 50.90% of the stock is currently owned by insiders.
UP Fintech Stock Performance
TIGR stock opened at $4.90 on Friday. The stock has a 50-day moving average price of $4.73 and a 200-day moving average price of $6.46. UP Fintech Holding Limited has a 1-year low of $4.00 and a 1-year high of $13.55. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06. The firm has a market cap of $929.53 million, a PE ratio of 8.17 and a beta of 0.45.
UP Fintech 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.
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