Traders Buy Large Volume of Call Options on UP Fintech (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR) was the target of some unusual options trading on Thursday. Stock traders bought 18,185 call options on the company. This is an increase of approximately 49% compared to the typical volume of 12,164 call options.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TIGR. Jefferies Financial Group restated a “buy” rating and set a $7.70 price objective on shares of UP Fintech in a research note on Thursday. Bank of America reissued a “buy” rating on shares of UP Fintech in a research note on Monday, June 1st. Wall Street Zen lowered shares of UP Fintech from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Citigroup lowered their price objective on UP Fintech to $7.10 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Four investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.16.

Insider Activity at UP Fintech

In other UP Fintech news, Director Jian Liu sold 9,333 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $4.60, for a total transaction of $42,931.80. Following the completion of the sale, the director directly owned 62,665 shares in the company, valued at $288,259. The trade was a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 50.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UP Fintech

Several institutional investors have recently added to or reduced their stakes in TIGR. Sparta 24 Ltd. lifted its position in UP Fintech by 9.1% during the first quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company’s stock valued at $36,592,000 after buying an additional 482,607 shares in the last quarter. Renaissance Technologies LLC boosted its stake in UP Fintech by 129.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,782,066 shares of the company’s stock valued at $11,227,000 after purchasing an additional 1,006,566 shares in the last quarter. Capital International Investors acquired a new position in shares of UP Fintech during the 4th quarter valued at $47,855,000. Jupiter Asset Management Ltd. raised its stake in shares of UP Fintech by 157.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company’s stock worth $40,307,000 after buying an additional 2,577,459 shares in the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in shares of UP Fintech in the fourth quarter valued at $10,243,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

UP Fintech Price Performance

Shares of UP Fintech stock traded down $0.42 on Thursday, hitting $5.04. The company’s stock had a trading volume of 2,616,363 shares, compared to its average volume of 3,430,564. The firm has a fifty day moving average price of $4.77 and a 200-day moving average price of $5.95. The company has a market capitalization of $955.13 million, a P/E ratio of 8.39 and a beta of 0.48. UP Fintech has a 52-week low of $4.00 and a 52-week high of $13.42. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.06.

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.