UP Fintech Holding Limited (NASDAQ:TIGR) Sees Large Decrease in Short Interest

UP Fintech Holding Limited (NASDAQ:TIGR) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 6,070,000 shares, a decline of 20.0% from the October 15th total of 7,590,000 shares. Based on an average daily volume of 13,600,000 shares, the short-interest ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TIGR shares. Citigroup reissued a “sell” rating and set a $5.50 price target (up from $5.00) on shares of UP Fintech in a report on Tuesday, October 22nd. China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a report on Thursday, October 24th.

UP Fintech Trading Down 2.8 %

Shares of UP Fintech stock opened at $5.51 on Friday. UP Fintech has a 1-year low of $3.10 and a 1-year high of $14.48. The company’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $4.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $1.02 billion, a PE ratio of 27.95 and a beta of 0.91.

UP Fintech (NASDAQ:TIGR) last released its earnings results on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The company had revenue of $87.44 million for the quarter. UP Fintech had a net margin of 9.14% and a return on equity of 6.22%.

Institutional Investors Weigh In On UP Fintech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIGR. GAMMA Investing LLC increased its stake in UP Fintech by 53.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after buying an additional 2,104 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of UP Fintech in the first quarter worth about $34,000. Blue Trust Inc. grew its position in shares of UP Fintech by 198.6% during the third quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares in the last quarter. SG Americas Securities LLC bought a new stake in UP Fintech during the 2nd quarter valued at approximately $78,000. Finally, Asset Management One Co. Ltd. lifted its holdings in UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after purchasing an additional 4,377 shares in the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.

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 services.