NU (NYSE:NU) Shares Down 6.1% – Here’s Why

Nu Holdings Ltd. (NYSE:NU) dropped 6.1% during trading on Monday . The stock traded as low as $11.55 and last traded at $11.76. Approximately 35,273,038 shares traded hands during trading, an increase of 7% from the average daily volume of 32,963,344 shares. The stock had previously closed at $12.53.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NU. Citigroup downgraded shares of NU from a “neutral” rating to a “sell” rating and cut their price target for the stock from $14.60 to $11.00 in a report on Monday. Barclays lifted their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. KeyCorp increased their price target on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Susquehanna boosted their price objective on shares of NU from $16.00 to $18.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.63.

NU Stock Performance

The company has a fifty day moving average price of $14.28 and a two-hundred day moving average price of $13.37. The firm has a market cap of $56.38 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 0.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44.

Institutional Trading of NU

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC increased its position in NU by 3.1% in the third quarter. LRI Investments LLC now owns 24,983 shares of the company’s stock worth $341,000 after purchasing an additional 743 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of NU by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 26,517 shares of the company’s stock valued at $362,000 after purchasing an additional 801 shares during the period. GAMMA Investing LLC lifted its stake in NU by 56.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $29,000 after acquiring an additional 815 shares in the last quarter. Marcum Wealth LLC lifted its position in shares of NU by 2.5% in the third quarter. Marcum Wealth LLC now owns 37,221 shares of the company’s stock worth $508,000 after purchasing an additional 903 shares in the last quarter. Finally, Fortis Capital Management LLC raised its holdings in NU by 6.6% during the second 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. Institutional investors and hedge funds own 80.90% of the company’s stock.

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.