UP Fintech (NASDAQ:TIGR) Sees Unusually-High Trading Volume – Still a Buy?

Shares of UP Fintech Holding Limited (NASDAQ:TIGR) saw an uptick in trading volume on Friday . 5,647,435 shares changed hands during mid-day trading, a decline of 10% from the previous session’s volume of 6,264,307 shares.The stock last traded at $9.03 and had previously closed at $8.30.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 price objective for the company.

UP Fintech Price Performance

The company has a market capitalization of $1.51 billion, a P/E ratio of 41.00 and a beta of 0.86. The company has a fifty day moving average price of $7.10 and a 200 day moving average price of $6.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11.

Hedge Funds Weigh In On UP Fintech

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted 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 buying an additional 9,748 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of UP Fintech by 38.5% during the third quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after buying an additional 4,377 shares during the period. GSA Capital Partners LLP boosted its position in shares of UP Fintech by 10.1% during the third quarter. GSA Capital Partners LLP now owns 675,961 shares of the company’s stock worth $3,610,000 after buying an additional 62,145 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of UP Fintech by 66.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,100 shares of the company’s stock worth $1,090,000 after buying an additional 81,300 shares during the period. Finally, Centiva Capital LP acquired a new position in shares of UP Fintech during the third quarter worth approximately $209,000. 9.03% of the stock is owned by 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.