NU (NYSE:NU) Shares Down 2.3% – Here’s What Happened

Shares of Nu Holdings Ltd. (NYSE:NU) fell 2.3% during mid-day trading on Tuesday . The stock traded as low as $10.39 and last traded at $10.41. 7,599,203 shares changed hands during trading, a decline of 78% from the average session volume of 33,819,602 shares. The stock had previously closed at $10.65.

Analyst Ratings Changes

Several research firms have recently issued reports on NU. Itau BBA Securities lowered shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price target on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Susquehanna raised their price target on shares of NU from $16.00 to $18.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. KeyCorp raised their price target on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Citigroup downgraded shares of NU from a “neutral” rating to a “sell” rating and reduced their price target for the company from $14.60 to $11.00 in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.63.

NU Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market cap of $49.38 billion, a P/E ratio of 28.78, a P/E/G ratio of 0.59 and a beta of 0.99. The business’s 50-day simple moving average is $13.00 and its 200 day simple moving average is $13.26.

Institutional Investors Weigh In On NU

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of NU by 315.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,153,464 shares of the company’s stock valued at $15,745,000 after acquiring an additional 876,039 shares during the period. Franklin Resources Inc. grew its position in shares of NU by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,060,504 shares of the company’s stock valued at $74,288,000 after acquiring an additional 271,903 shares during the period. Tidal Investments LLC grew its position in shares of NU by 25.1% during the 3rd quarter. Tidal Investments LLC now owns 2,312,956 shares of the company’s stock valued at $31,572,000 after acquiring an additional 463,866 shares during the period. Blankinship & Foster LLC bought a new stake in shares of NU during the 3rd quarter valued at $3,212,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of NU during the 3rd quarter valued at $148,000. Institutional investors own 84.02% 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.