Nvni Group (NASDAQ:NVNI) Stock Price Up 5.9% – Time to Buy?

Shares of Nvni Group Limited (NASDAQ:NVNI) were up 5.9% on Monday . The company traded as high as $0.9541 and last traded at $0.9541. 30,992 shares were traded during trading, a decline of 36% from the average daily volume of 48,492 shares. The stock had previously closed at $0.9007.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVNI. Zacks Research upgraded Nvni Group to a “hold” rating in a research note on Friday, August 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nvni Group in a research note on Wednesday, August 26th. Finally, Maxim Group downgraded Nvni Group from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nvni Group currently has an average rating of “Reduce”.

Nvni Group Price Performance

The stock’s 50 day simple moving average is $1.08 and its two-hundred day simple moving average is $1.14. The firm has a market cap of $9.38 million, a P/E ratio of 2.33 and a beta of -0.10.

Hedge Funds Weigh In On Nvni Group

An institutional investor recently raised its position in Nvni Group stock. Cygnus Capital Advisors LLC grew its position in Nvni Group Limited (NASDAQ:NVNI) by 219.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,371 shares of the company’s stock after buying an additional 23,596 shares during the period. Cygnus Capital Advisors LLC owned approximately 0.34% of Nvni Group worth $33,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.49% of the company’s stock.

About Nvni Group

Nvni Group Limited provides a business to business SaaS platform that offers cloud solutions. The company was incorporated in 2019 and is based in São Paulo, Brazil.