NU (NYSE:NU) Trading Down 6.1% – Here’s What Happened

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on NU shares. Citigroup downgraded NU from a “neutral” rating to a “sell” rating and cut their price target for the company from $14.60 to $11.00 in a report on Monday. Itau BBA Securities lowered shares of NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Barclays lifted 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. The Goldman Sachs Group raised their target price on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, KeyCorp upped their price target on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NU currently has an average rating of “Hold” and a consensus price target of $15.63.

NU Stock Down 5.6 %

The firm has a market capitalization 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. The business has a fifty day moving average price of $14.28 and a two-hundred day moving average price of $13.37.

Institutional Trading of NU

Hedge funds and other institutional investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV grew its stake in shares of NU by 287.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock worth $26,000 after purchasing an additional 1,422 shares during the period. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 815 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of NU during the 3rd quarter valued at about $44,000. ORG Partners LLC purchased a new position in shares of NU in the 2nd quarter valued at about $54,000. Finally, Toth Financial Advisory Corp acquired a new position in NU in the 3rd quarter worth about $55,000. Institutional investors and hedge funds 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.