NU (NYSE:NU) Stock Price Down 7.3% – What’s Next?

Nu Holdings Ltd. (NYSE:NU) shares dropped 7.3% during trading on Friday . The stock traded as low as $12.37 and last traded at $12.54. Approximately 25,227,799 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 32,812,328 shares. The stock had previously closed at $13.53.

Analyst Ratings Changes

NU has been the subject of several research analyst reports. KeyCorp increased their price objective on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Bank of America upped their price target on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. 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 report on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.21.

NU Stock Down 7.6 %

The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $14.35 and its 200 day simple moving average is $13.34. The stock has a market capitalization of $59.57 billion, a P/E ratio of 34.83, a P/E/G ratio of 0.66 and a beta of 1.13.

Institutional Trading of NU

A number of hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its position 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 purchasing an additional 1,422 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 815 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in NU in the third quarter valued at $44,000. ORG Partners LLC bought a new position in NU during the 2nd quarter worth $54,000. Finally, Toth Financial Advisory Corp acquired a new position in NU during the 3rd quarter worth about $55,000. 80.90% of the stock is owned by hedge funds and other institutional investors.

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.