UP Fintech (NASDAQ:TIGR) Hits New 52-Week High at $6.10

UP Fintech Holding Limited (NASDAQ:TIGR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.10 and last traded at $5.91, with a volume of 5530931 shares traded. The stock had previously closed at $5.34.

Analyst Upgrades and Downgrades

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

UP Fintech Trading Up 14.8 %

The company has a market cap of $961.74 million, a price-to-earnings ratio of 25.00 and a beta of 0.90. The company’s 50-day moving average is $3.84 and its 200 day moving average is $3.96. 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 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 net margin of 8.59% and a return on equity of 5.35%. The company had revenue of $87.44 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TIGR. Sparta 24 Ltd. purchased a new position in shares of UP Fintech in the 2nd quarter valued at about $6,186,000. Marshall Wace LLP grew its holdings in UP Fintech by 52.8% in the 2nd quarter. Marshall Wace LLP now owns 1,112,172 shares of the company’s stock valued at $4,671,000 after buying an additional 384,213 shares during the period. Russell Investments Group Ltd. raised its stake in UP Fintech by 6,367.8% during the first 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 period. GSA Capital Partners LLP raised its position in shares of UP Fintech by 19.8% in the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock worth $967,000 after buying an additional 46,394 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of UP Fintech by 162.7% during the 2nd quarter. Renaissance Technologies LLC now owns 92,441 shares of the company’s stock worth $388,000 after purchasing an additional 57,257 shares during the period. Hedge funds and other 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; and account management services.