Investors Buy Large Volume of UP Fintech Put Options (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR) saw some unusual options trading on Thursday. Investors acquired 47,791 put options on the stock. This represents an increase of approximately 38% compared to the typical volume of 34,663 put options.

Hedge Funds Weigh In On UP Fintech

Several institutional investors and hedge funds have recently modified their holdings of TIGR. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 3,105 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of UP Fintech by 527.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after acquiring an additional 3,901 shares during the period. Geode Capital Management LLC grew its position in shares of UP Fintech by 5.2% in the third quarter. Geode Capital Management LLC now owns 81,842 shares of the company’s stock valued at $437,000 after purchasing an additional 4,082 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of UP Fintech during the fourth quarter worth approximately $34,000. Finally, Deutsche Bank AG acquired a new stake in UP Fintech during the 4th quarter worth approximately $38,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TIGR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a research report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price on the stock. Citigroup upgraded UP Fintech from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th. Finally, Bank of America assumed coverage on shares of UP Fintech in a research note on Monday, March 17th. They issued a “buy” rating for the company.

UP Fintech Trading Down 12.8 %

UP Fintech stock opened at $7.24 on Friday. The stock has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $6.97. The stock has a market capitalization of $1.34 billion, a P/E ratio of 36.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. UP Fintech has a 52 week low of $3.10 and a 52 week high of $14.48.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.11 by $0.06. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%. The company had revenue of $124.10 million during the quarter, compared to the consensus estimate of $73.60 million.

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.