Bank of America Corp DE Raises Position in UP Fintech Holding Limited (NASDAQ:TIGR)

ABMN Staff 2021-11-19 10:11

UP Fintech logo Bank of America Corp DE raised its holdings in shares of UP Fintech Holding Limited (NASDAQ:TIGR) by 4,156.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 635,666 shares of the company’s stock after acquiring an additional 620,733 shares during the quarter. Bank of America Corp DE owned approximately 0.39% of UP Fintech worth $18,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Korea Investment CORP bought a new stake in shares of UP Fintech during the 2nd quarter valued at $41,000. Royal Bank of Canada raised its position in shares of UP Fintech by 584.5% during the 2nd quarter. Royal Bank of Canada now owns 3,094 shares of the company’s stock valued at $90,000 after purchasing an additional 2,642 shares during the period. Shell Asset Management Co. bought a new stake in shares of UP Fintech during the 2nd quarter valued at $101,000. DekaBank Deutsche Girozentrale bought a new stake in shares of UP Fintech during the 2nd quarter valued at $149,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of UP Fintech during the 2nd quarter valued at $170,000. Hedge funds and other institutional investors own 15.87% of the company’s stock.

Shares of NASDAQ TIGR opened at $6.58 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $1.06 billion, a P/E ratio of 82.26 and a beta of 1.54. The firm’s fifty day moving average is $9.66 and its two-hundred day moving average is $16.00. UP Fintech Holding Limited has a 52-week low of $5.12 and a 52-week high of $38.50.

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

Separately, Citigroup decreased their price objective on shares of UP Fintech from $21.63 to $18.22 and set a “buy” rating on the stock in a research report on Monday, September 13th.

UP Fintech Profile

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.