NU (NYSE:NU) Shares Down 0.7% – Here’s Why

Shares of Nu Holdings Ltd. (NYSE:NU) dropped 0.7% during trading on Wednesday . The stock traded as low as $15.69 and last traded at $15.73. Approximately 8,109,671 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 31,782,705 shares. The stock had previously closed at $15.84.

Analysts Set New Price Targets

NU has been the subject of several research reports. Bank of America upped their price target on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. UBS Group downgraded shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective for the company. in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Barclays upped their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of NU in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.21.

NU Price Performance

The company’s 50-day moving average is $14.43 and its 200-day moving average is $13.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of 50.84, a PEG ratio of 0.72 and a beta of 1.13.

NU (NYSE:NU) last released its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. NU had a net margin of 15.11% and a return on equity of 27.00%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company earned $0.05 earnings per share. On average, research analysts expect that Nu Holdings Ltd. will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NU. Allspring Global Investments Holdings LLC raised its holdings in NU by 179.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,841 shares of the company’s stock valued at $105,000 after buying an additional 5,672 shares during the period. Hamilton Lane Advisors LLC raised its holdings in NU by 97.8% in the first quarter. Hamilton Lane Advisors LLC now owns 500,791 shares of the company’s stock valued at $5,974,000 after buying an additional 247,642 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in NU in the first quarter valued at approximately $1,610,000. SG Americas Securities LLC purchased a new position in NU in the first quarter valued at approximately $1,790,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of NU during the first quarter valued at approximately $133,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

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.