NU (NYSE:NU) Stock Price Down 0.3% – Here’s Why

Nu Holdings Ltd. (NYSE:NU)’s stock price fell 0.3% on Tuesday . The stock traded as low as $11.55 and last traded at $11.70. 13,586,023 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 33,242,055 shares. The stock had previously closed at $11.74.

Analysts Set New Price Targets

Several research firms recently weighed in on NU. KeyCorp raised their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Susquehanna raised their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their target price on NU from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Bank of America increased their target price on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Citigroup downgraded NU from a “neutral” rating to a “sell” rating and dropped their target price for the company from $14.60 to $11.00 in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, NU currently has a consensus rating of “Hold” and a consensus price target of $15.63.

NU Stock Performance

The stock has a 50 day moving average of $13.87 and a 200 day moving average of $13.38. 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 company has a market capitalization of $55.90 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 0.59 and a beta of 0.99.

Hedge Funds Weigh In On NU

Several institutional investors have recently added to or reduced their stakes in NU. Fisher Asset Management LLC bought a new stake in shares of NU during the third quarter valued at approximately $98,704,000. Thrivent Financial for Lutherans increased its holdings in shares of NU by 23.2% during the third quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock valued at $3,517,000 after acquiring an additional 48,445 shares in the last quarter. Adero Partners LLC increased its holdings in shares of NU by 5.7% during the third quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after acquiring an additional 259,324 shares in the last quarter. Summit Partners Public Asset Management LLC increased its holdings in shares of NU by 20.0% during the third quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock valued at $4,095,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of NU by 6.2% during the third quarter. Royal London Asset Management Ltd. now owns 1,305,453 shares of the company’s stock valued at $17,819,000 after acquiring an additional 76,009 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

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.