Qube Research & Technologies Ltd Purchases New Stake in UP Fintech Holding Limited (NASDAQ:TIGR)

   2021-10-16 11:10


Qube Research & Technologies Ltd purchased a new stake in UP Fintech Holding Limited (NASDAQ:TIGR) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 60,893 shares of the company’s stock, valued at approximately $1,765,000.



Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of UP Fintech by 5,487.1% in the second quarter. BlackRock Inc. now owns 3,205,640 shares of the company’s stock valued at $92,898,000 after purchasing an additional 3,148,264 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of UP Fintech in the first quarter valued at approximately $23,185,000. Millennium Management LLC increased its holdings in shares of UP Fintech by 4,296.0% in the first quarter. Millennium Management LLC now owns 859,556 shares of the company’s stock valued at $15,292,000 after purchasing an additional 840,003 shares during the last quarter. Citigroup Inc. increased its holdings in shares of UP Fintech by 40.9% in the first quarter. Citigroup Inc. now owns 548,039 shares of the company’s stock valued at $9,750,000 after purchasing an additional 158,955 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in UP Fintech in the second quarter worth approximately $14,362,000. 15.97% of the stock is owned by hedge funds and other institutional investors.


Several research analysts recently weighed in on TIGR shares. The Goldman Sachs Group started coverage on UP Fintech in a research report on Tuesday, July 13th. They issued a “sell” rating and a $21.10 price objective for the company. Citigroup lowered their price objective on UP Fintech from $21.63 to $18.22 and set a “buy” rating for the company in a research report on Monday, September 13th. Finally, TheStreet lowered UP Fintech from a “c-” rating to a “d+” rating in a research report on Wednesday, July 7th.

TIGR opened at $7.91 on Friday. UP Fintech Holding Limited has a 52 week low of $4.30 and a 52 week high of $38.50. The business has a fifty day simple moving average of $12.84 and a 200-day simple moving average of $17.82. The firm has a market cap of $1.28 billion, a P/E ratio of 98.89 and a beta of 1.73. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 0.41.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings results on Friday, September 10th. The company reported ($0.05) EPS for the quarter. UP Fintech had a return on equity of 9.95% and a net margin of 5.24%. The firm had revenue of $60.23 million for the quarter.

About UP Fintech

UP Fintech Holding Ltd. is a brokerage firm, which engages in the provision of online brokerage services. The company was founded by Tian Hua Wu in 2014 and is headquartered in Chaoyang District, China.

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Institutional Ownership by Quarter for UP Fintech (NASDAQ:TIGR)



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