UP Fintech (NASDAQ:TIGR) Sees Strong Trading Volume – Here’s Why

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) saw an uptick in trading volume on Tuesday . 4,301,050 shares changed hands during trading, a decline of 31% from the previous session’s volume of 6,197,851 shares.The stock last traded at $9.16 and had previously closed at $7.97.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a 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 UP Fintech in a report on Monday. They set a “buy” rating on the stock.

UP Fintech Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 45.98 and a beta of 0.87. The company’s 50-day simple moving average is $7.20 and its 200-day simple moving average is $6.51.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TIGR. Tower Research Capital LLC TRC grew its position in UP Fintech by 527.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after purchasing an additional 3,901 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in UP Fintech during the 4th quarter worth approximately $34,000. Deutsche Bank AG purchased a new position in UP Fintech during the 4th quarter worth approximately $38,000. GAMMA Investing LLC grew its position in UP Fintech by 51.5% during the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock worth $59,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Tairen Capital Ltd purchased a new position in UP Fintech during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.