NU (NYSE:NU) Shares Down 1.9% – Here’s Why

Nu Holdings Ltd. (NYSE:NU) shares dropped 1.9% on Wednesday . The stock traded as low as $15.36 and last traded at $15.37. Approximately 4,495,475 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 31,994,877 shares. The stock had previously closed at $15.66.

Wall Street Analysts Forecast Growth

NU has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on NU from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays increased their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Susquehanna restated a “positive” rating and issued a $16.00 price target on shares of NU in a research report on Thursday, August 15th. UBS Group lowered NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research note on Friday, August 2nd. Finally, Bank of America lifted their price target on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.21.

NU Stock Down 5.2 %

The firm’s fifty day moving average price is $14.35 and its 200-day moving average price is $12.88. 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 $68.20 billion, a P/E ratio of 47.68, a PEG ratio of 0.72 and a beta of 1.15.

NU (NYSE:NU) last issued its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. NU had a net margin of 15.11% and a return on equity of 27.00%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the firm posted $0.05 earnings per share. As a group, equities research analysts forecast that Nu Holdings Ltd. will post 0.41 earnings per share for the current year.

Institutional Trading of NU

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in NU by 56.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after buying an additional 815 shares in the last quarter. Marcum Wealth LLC boosted its position in shares of NU by 2.5% during the 3rd quarter. Marcum Wealth LLC now owns 37,221 shares of the company’s stock worth $508,000 after acquiring an additional 903 shares in the last quarter. Stokes Family Office LLC boosted its position in shares of NU by 10.0% during the 1st quarter. Stokes Family Office LLC now owns 11,000 shares of the company’s stock worth $131,000 after acquiring an additional 1,000 shares in the last quarter. Fortis Capital Management LLC boosted its position in shares of NU by 6.6% during the 2nd quarter. Fortis Capital Management LLC now owns 17,330 shares of the company’s stock worth $223,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Americana Partners LLC boosted its position in shares of NU by 7.8% during the 2nd quarter. Americana Partners LLC now owns 15,449 shares of the company’s stock worth $199,000 after acquiring an additional 1,115 shares in the last quarter. 80.90% of the stock is currently 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.