UP Fintech Sees Unusually High Options Volume (NASDAQ:TIGR)

UP Fintech Holding Limited (NASDAQ:TIGR) saw unusually large options trading on Tuesday. Stock investors purchased 24,253 call options on the company. This represents an increase of 58% compared to the average daily volume of 15,348 call options.

UP Fintech Stock Up 5.7%

TIGR stock traded up $0.42 during mid-day trading on Tuesday, reaching $7.73. 1,112,423 shares of the company traded hands, compared to its average volume of 3,143,997. The firm’s 50 day moving average price is $8.65 and its 200 day moving average price is $9.62. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 0.22 and a beta of 0.43. UP Fintech has a fifty-two week low of $6.38 and a fifty-two week high of $13.55.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TIGR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of UP Fintech in a research report on Wednesday, January 21st. Citigroup raised their target price on UP Fintech to $17.50 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $4.73 price objective on shares of UP Fintech in a report on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, UP Fintech currently has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Institutional Investors Weigh In On UP Fintech

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of UP Fintech in the 2nd quarter worth $33,000. GeoWealth Management LLC purchased a new stake in UP Fintech in the 4th quarter valued at about $35,000. First Horizon Advisors Inc. purchased a new position in shares of UP Fintech in the 2nd quarter worth approximately $52,000. Bayforest Capital Ltd purchased a new stake in shares of UP Fintech during the third quarter valued at approximately $66,000. Finally, SBI Securities Co. Ltd. lifted its holdings in UP Fintech by 22.7% during the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock worth $62,000 after acquiring an additional 1,179 shares during the period. Institutional investors own 9.03% of the company’s stock.

UP Fintech Company Profile

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.