UP Fintech Target of Unusually Large Options Trading (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR) saw unusually large options trading activity on Monday. Stock investors purchased 277,936 call options on the stock. This represents an increase of 1,553% compared to the typical volume of 16,811 call options.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in UP Fintech during the fourth quarter valued at $5,219,000. Wilmington Savings Fund Society FSB raised its stake in shares of UP Fintech by 60.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 16,000 shares of the company’s stock worth $171,000 after buying an additional 6,000 shares during the period. PharVision Advisers LLC purchased a new position in shares of UP Fintech during the 3rd quarter valued at about $734,000. Voloridge Investment Management LLC bought a new position in shares of UP Fintech during the 3rd quarter valued at approximately $7,178,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in UP Fintech in the 3rd quarter worth approximately $3,850,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup raised their target price on shares of UP Fintech to $17.50 and gave the company a “buy” rating in a research note on Friday, December 5th. Jefferies Financial Group assumed coverage on UP Fintech in a research report on Monday, September 29th. They set a “buy” rating and a $12.00 price objective for the company. Wall Street Zen cut UP Fintech from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. UBS Group started coverage on UP Fintech in a research note on Thursday, October 23rd. They issued a “buy” rating and a $13.10 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.83.

UP Fintech Stock Up 6.2%

Shares of UP Fintech stock traded up $0.60 on Monday, reaching $10.32. The company’s stock had a trading volume of 8,293,705 shares, compared to its average volume of 5,461,247. UP Fintech has a 52 week low of $5.64 and a 52 week high of $13.55. The firm’s fifty day simple moving average is $9.37 and its two-hundred day simple moving average is $10.12. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 12.45 and a beta of 0.29.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.21 by $0.08. UP Fintech had a return on equity of 21.09% and a net margin of 27.42%.The company had revenue of $175.16 million for the quarter, compared to analysts’ expectations of $132.76 million. During the same period last year, the firm posted $0.11 earnings per share.

About UP Fintech

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.