UP Fintech Holding Limited (NASDAQ:TIGR – Get Free Report) shares rose 8% during trading on Thursday . The stock traded as high as $3.77 and last traded at $3.77. Approximately 838,494 shares traded hands during trading, a decline of 13% from the average daily volume of 963,874 shares. The stock had previously closed at $3.49.
Analysts Set New Price Targets
Separately, Citigroup dropped their target price on shares of UP Fintech from $6.49 to $5.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd.
UP Fintech Trading Up 9.5 %
UP Fintech (NASDAQ:TIGR – Get Free Report) last posted its quarterly earnings results on Friday, August 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). UP Fintech had a return on equity of 5.35% and a net margin of 8.59%. The company had revenue of $87.44 million for the quarter.
Institutional Trading of UP Fintech
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sparta 24 Ltd. purchased a new position in UP Fintech in the second quarter worth approximately $6,186,000. Marshall Wace LLP increased its position in shares of UP Fintech by 52.8% during the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock worth $4,671,000 after purchasing an additional 384,213 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of 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 purchasing an additional 446,572 shares during the last quarter. GSA Capital Partners LLP raised its holdings in UP Fintech by 19.8% in the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock valued at $967,000 after buying an additional 46,394 shares during the period. Finally, Renaissance Technologies LLC lifted its position in UP Fintech by 162.7% in the second quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock valued at $388,000 after buying an additional 57,257 shares during the last quarter. Institutional investors and hedge funds 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; and account management services.
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