Nuvei (NASDAQ:NVEI) Sets New 52-Week High – What’s Next?

Shares of Nuvei Co. (NASDAQ:NVEI) hit a new 52-week high during trading on Wednesday . The company traded as high as $33.97 and last traded at $33.97, with a volume of 1267046 shares traded. The stock had previously closed at $33.57.

Nuvei Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $4.82 billion, a P/E ratio of -377.51, a P/E/G ratio of 1.85 and a beta of 2.51. The stock’s 50 day simple moving average is $33.42 and its 200 day simple moving average is $32.87.

Nuvei (NASDAQ:NVEI) last posted its earnings results on Tuesday, November 12th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Nuvei had a negative net margin of 0.87% and a positive return on equity of 6.98%. The firm had revenue of $357.62 million for the quarter, compared to analysts’ expectations of $340.60 million. As a group, analysts expect that Nuvei Co. will post 1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Nuvei by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,327,272 shares of the company’s stock valued at $73,588,000 after purchasing an additional 44,600 shares during the period. Millennium Management LLC boosted its position in Nuvei by 130.8% during the second quarter. Millennium Management LLC now owns 2,138,217 shares of the company’s stock worth $69,235,000 after acquiring an additional 1,211,748 shares during the last quarter. Pentwater Capital Management LP boosted its position in Nuvei by 1,233.3% during the second quarter. Pentwater Capital Management LP now owns 2,000,000 shares of the company’s stock worth $64,760,000 after acquiring an additional 1,850,000 shares during the last quarter. Alpine Associates Management Inc. boosted its position in Nuvei by 15.1% during the third quarter. Alpine Associates Management Inc. now owns 823,433 shares of the company’s stock worth $27,461,000 after acquiring an additional 108,230 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Nuvei during the second quarter worth about $24,956,000. Hedge funds and other institutional investors own 42.45% of the company’s stock.

About Nuvei

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.