NU (NYSE:NU) Sets New 52-Week High – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.13 and last traded at $15.97, with a volume of 5127911 shares traded. The stock had previously closed at $15.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group downgraded shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target on the stock. in a report on Friday, August 2nd. 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. Susquehanna restated a “positive” rating and issued a $16.00 price objective on shares of NU in a research report on Thursday, August 15th. Bank of America upped their price objective on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.21.

NU Price Performance

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $14.45 and its 200 day simple moving average is $13.17. The firm has a market capitalization of $74.54 billion, a P/E ratio of 50.45, a PEG ratio of 0.72 and a beta of 1.13.

NU (NYSE:NU) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.41 earnings per share for the current year.

Institutional Trading of NU

A number of institutional investors have recently made changes to their positions in NU. Massmutual Trust Co. FSB ADV lifted its stake in NU by 287.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock worth $26,000 after acquiring an additional 1,422 shares during the period. GAMMA Investing LLC lifted its stake 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 acquiring an additional 815 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in NU in the third quarter worth $44,000. ORG Partners LLC purchased a new stake in NU in the second quarter worth $54,000. Finally, Toth Financial Advisory Corp purchased a new stake in NU in the third quarter worth $55,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

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.