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

UP Fintech Holding Limited (NASDAQ:TIGR) was the recipient of unusually large options trading activity on Monday. Traders bought 57,173 put options on the company. This represents an increase of 53% compared to the average volume of 37,456 put options.

UP Fintech Stock Up 5.6 %

NASDAQ:TIGR traded up $0.43 during trading hours on Monday, reaching $8.16. The company’s stock had a trading volume of 3,225,750 shares, compared to its average volume of 6,963,018. The stock has a 50 day moving average price of $7.66 and a two-hundred day moving average price of $7.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $1.51 billion, a P/E ratio of 40.88 and a beta of 0.65. UP Fintech has a 12 month low of $3.36 and a 12 month high of $14.48.

UP Fintech (NASDAQ:TIGR) last released its quarterly 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. The firm had revenue of $124.10 million during the quarter, compared to analyst estimates of $73.60 million. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TIGR. Marshall Wace LLP increased its stake in UP Fintech by 492.4% during the 4th quarter. Marshall Wace LLP now owns 5,599,514 shares of the company’s stock valued at $36,173,000 after purchasing an additional 4,654,351 shares in the last quarter. Two Sigma Investments LP increased its position in shares of UP Fintech by 808.5% in the 4th quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company’s stock valued at $11,743,000 after acquiring an additional 1,617,702 shares during the period. Millennium Management LLC raised its stake in UP Fintech by 2,631.2% in the 4th quarter. Millennium Management LLC now owns 1,620,968 shares of the company’s stock worth $10,471,000 after acquiring an additional 1,561,617 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new stake in UP Fintech during the 4th quarter worth about $8,105,000. Finally, Two Sigma Advisers LP grew its stake in UP Fintech by 841.6% during the 4th quarter. Two Sigma Advisers LP now owns 888,900 shares of the company’s stock valued at $5,742,000 after purchasing an additional 794,500 shares during the last quarter. 9.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.