NU (NYSE:NU) Trading Down 5.3% – What’s Next?

Nu Holdings Ltd. (NYSE:NU)’s stock price dropped 5.3% on Friday . The company traded as low as $14.35 and last traded at $14.39. Approximately 11,019,341 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 32,153,910 shares. The stock had previously closed at $15.19.

Analysts Set New Price Targets

Several analysts have recently issued reports on NU shares. Bank of America upped their price target on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a report on Thursday. The Goldman Sachs Group boosted their price objective on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna raised their target price on shares of NU from $16.00 to $18.00 and gave the company a “positive” rating in a research note on Thursday. Finally, KeyCorp boosted their target price on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, NU presently has an average rating of “Moderate Buy” and a consensus price target of $16.21.

NU Stock Down 7.4 %

The firm’s 50-day simple moving average is $14.48 and its 200-day simple moving average is $13.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $67.01 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 0.71 and a beta of 1.13.

Institutional Investors Weigh In On NU

A number of institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC lifted its position 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 acquiring an additional 743 shares during the period. GAMMA Investing LLC lifted its position in NU by 56.2% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after purchasing an additional 815 shares during the period. Marcum Wealth LLC boosted its stake in NU by 2.5% during the third quarter. Marcum Wealth LLC now owns 37,221 shares of the company’s stock worth $508,000 after buying an additional 903 shares in the last quarter. Fortis Capital Management LLC increased its holdings in NU by 6.6% in the 2nd quarter. Fortis Capital Management LLC now owns 17,330 shares of the company’s stock valued at $223,000 after buying an additional 1,072 shares during the period. Finally, Americana Partners LLC raised its stake in shares of NU by 7.8% in the 2nd quarter. Americana Partners LLC now owns 15,449 shares of the company’s stock valued at $199,000 after buying an additional 1,115 shares in the last quarter. 80.90% of the stock is 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.