NU (NYSE:NU) Shares Down 2.9% – Here’s Why

Nu Holdings Ltd. (NYSE:NU)’s stock price fell 2.9% during trading on Thursday . The company traded as low as $13.49 and last traded at $13.53. 31,092,908 shares traded hands during trading, a decline of 5% from the average session volume of 32,858,809 shares. The stock had previously closed at $13.94.

Analyst Ratings Changes

A number of research firms have recently commented on NU. JPMorgan Chase & Co. boosted their target price on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Bank of America lifted their price target on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research note on Friday, August 2nd. Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Finally, KeyCorp increased their price objective on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.21.

NU Price Performance

The stock has a fifty day moving average of $14.37 and a two-hundred day moving average of $13.34. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20. The stock has a market cap of $64.48 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of NU by 287.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock worth $26,000 after purchasing an additional 1,422 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of NU by 56.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $29,000 after buying an additional 815 shares during the period. Carolina Wealth Advisors LLC acquired a new position in NU during the 3rd quarter worth approximately $44,000. Toth Financial Advisory Corp acquired a new stake in NU in the third quarter valued at approximately $55,000. Finally, ORG Partners LLC purchased a new stake in shares of NU during the second quarter valued at approximately $54,000. 80.90% of the stock is currently owned by institutional investors and hedge funds.

NU Company Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.