NU (NYSE:NU) Shares Down 3.4% – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU)’s stock price fell 3.4% during trading on Wednesday . The stock traded as low as $11.28 and last traded at $11.30. 15,120,070 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 33,359,566 shares. The stock had previously closed at $11.70.

Analyst Upgrades and Downgrades

NU has been the topic of several recent analyst reports. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. KeyCorp boosted 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. Bank of America boosted their price target on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. The Goldman Sachs Group lifted their price objective on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Susquehanna lifted their price target on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.63.

NU Stock Performance

The business has a 50 day moving average of $13.84 and a 200-day moving average of $13.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market capitalization of $51.19 billion, a P/E ratio of 29.83, a price-to-earnings-growth ratio of 0.59 and a beta of 0.99.

Institutional Investors Weigh In On NU

A number of institutional investors and hedge funds have recently modified their holdings of NU. LRI Investments LLC boosted its holdings in shares of NU by 3.1% in the 3rd quarter. LRI Investments LLC now owns 24,983 shares of the company’s stock worth $341,000 after purchasing an additional 743 shares in the last quarter. Coldstream Capital Management Inc. grew its position in NU by 3.1% during the third quarter. Coldstream Capital Management Inc. now owns 26,517 shares of the company’s stock valued at $362,000 after acquiring an additional 801 shares during the last quarter. Marcum Wealth LLC boosted its stake in shares of NU by 2.5% in the 3rd quarter. Marcum Wealth LLC now owns 37,221 shares of the company’s stock valued at $508,000 after purchasing an additional 903 shares in the last quarter. Americana Partners LLC raised its position in NU by 7.8% in the 2nd quarter. Americana Partners LLC now owns 15,449 shares of the company’s stock worth $199,000 after purchasing an additional 1,115 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in NU by 4.9% during the third quarter. OneDigital Investment Advisors LLC now owns 26,477 shares of the company’s stock valued at $361,000 after buying an additional 1,248 shares during the period. 84.02% of the stock is owned by hedge funds and other institutional investors.

About NU

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.