UP Fintech (NASDAQ:TIGR) Releases Earnings Results, Beats Estimates By $0.08 EPS

UP Fintech (NASDAQ:TIGR) posted its quarterly earnings results on Thursday. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08, RTT News reports. UP Fintech had a return on equity of 17.81% and a net margin of 24.18%.During the same period in the prior year, the firm earned $0.11 earnings per share.

UP Fintech Price Performance

Shares of NASDAQ TIGR opened at $8.66 on Thursday. The company has a 50 day simple moving average of $9.77 and a 200 day simple moving average of $9.95. UP Fintech has a 1 year low of $5.64 and a 1 year high of $13.55. The firm has a market cap of $1.60 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.57 and a beta of 0.37.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of UP Fintech from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. UBS Group initiated coverage on UP Fintech in a research note on Thursday, October 23rd. They set a “buy” rating and a $13.10 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group began 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. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.13.

Hedge Funds Weigh In On UP Fintech

A number of hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB grew 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 purchasing an additional 6,000 shares during the last quarter. PharVision Advisers LLC acquired a new position in UP Fintech during the 3rd quarter worth about $734,000. Voloridge Investment Management LLC bought a new stake in shares of UP Fintech in the 3rd quarter valued at about $7,178,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of UP Fintech in the third quarter valued at about $3,850,000. Finally, Polymer Capital Management HK LTD bought a new position in shares of UP Fintech during the third quarter worth about $2,638,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

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.