UP Fintech Holding Limited (NASDAQ:TIGR) Sees Significant Decline in Short Interest

UP Fintech Holding Limited (NASDAQ:TIGR) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 5,160,000 shares, a decline of 20.9% from the February 13th total of 6,520,000 shares. Based on an average daily volume of 7,100,000 shares, the short-interest ratio is currently 0.7 days. Approximately 5.7% of the company’s shares are sold short.

Analyst Ratings Changes

Several research firms recently weighed in on TIGR. Deutsche Bank Aktiengesellschaft began coverage on UP Fintech in a research report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price on the stock. Bank of America assumed coverage on shares of UP Fintech in a research report on Monday. They issued a “buy” rating on the stock.

UP Fintech Trading Up 12.5 %

Shares of NASDAQ:TIGR traded up $1.00 during trading on Tuesday, reaching $8.97. 13,508,792 shares of the stock were exchanged, compared to its average volume of 6,215,521. The firm’s 50-day moving average price is $7.20 and its 200 day moving average price is $6.51. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 44.95 and a beta of 0.87. UP Fintech has a 12-month low of $3.10 and a 12-month high of $14.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11.

Institutional Investors Weigh In On UP Fintech

Several institutional investors have recently bought and sold shares of the business. Marshall Wace LLP lifted its holdings in shares of UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after acquiring an additional 4,654,351 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock worth $11,743,000 after purchasing an additional 1,617,702 shares in the last quarter. Millennium Management LLC boosted its stake in shares of UP Fintech by 2,631.2% in the fourth quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock valued at $10,471,000 after purchasing an additional 1,561,617 shares during the period. Contrarius Group Holdings Ltd acquired a new stake in UP Fintech during the 4th quarter valued at $8,105,000. Finally, Two Sigma Advisers LP increased its stake in UP Fintech by 841.6% during the 4th quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock worth $5,742,000 after buying an additional 794,500 shares during the period. 9.03% of the stock is currently owned by hedge funds and other institutional investors.

UP Fintech Company Profile

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.