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

UP Fintech Holding Limited (NASDAQ:TIGR) was the recipient of unusually large options trading activity on Monday. Traders bought 277,936 call options on the stock. This is an increase of 1,553% compared to the average volume of 16,811 call options.

UP Fintech Price Performance

TIGR traded up $0.60 during midday trading on Monday, reaching $10.32. 8,293,705 shares of the company’s stock traded hands, 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 has a fifty day moving average of $9.37 and a two-hundred day moving average of $10.12. The stock 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 posted its earnings results on Thursday, December 4th. The company reported $0.29 earnings per share (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 firm had revenue of $175.16 million for the quarter, compared to analysts’ expectations of $132.76 million. During the same period in the previous year, the firm earned $0.11 earnings per share.

Institutional Investors Weigh In On UP Fintech

A number of large investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its holdings in UP Fintech by 818.7% in the first quarter. Acadian Asset Management LLC now owns 126,596 shares of the company’s stock worth $1,085,000 after buying an additional 112,816 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of UP Fintech by 282.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company’s stock valued at $31,335,000 after purchasing an additional 2,397,261 shares in the last quarter. Jump Financial LLC purchased a new stake in UP Fintech in the second quarter worth $12,993,000. Jupiter Asset Management Ltd. purchased a new stake in UP Fintech in the second quarter worth $24,456,000. Finally, Envestnet Asset Management Inc. raised its holdings in UP Fintech by 21.2% in the second quarter. Envestnet Asset Management Inc. now owns 218,480 shares of the company’s stock worth $2,108,000 after purchasing an additional 38,148 shares in the last quarter. Institutional investors own 9.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of UP Fintech in a report on Monday, September 29th. They set a “buy” rating and a $12.00 target price on the stock. Wall Street Zen cut UP Fintech from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, October 8th. The Goldman Sachs Group restated a “sell” rating and set a $4.73 target price on shares of UP Fintech in a report on Friday, December 5th. Finally, Citigroup raised their price target on UP Fintech to $17.50 and gave the stock a “buy” rating in a research report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

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.