NU (NYSE:NU) Stock Price Down 3.4% – What’s Next?

Nu Holdings Ltd. (NYSE:NU)’s stock price dropped 3.4% during trading on Wednesday . The stock traded as low as $11.28 and last traded at $11.30. Approximately 15,120,070 shares were traded during trading, a decline of 55% from the average daily volume of 33,359,566 shares. The stock had previously closed at $11.70.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NU shares. KeyCorp raised their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Susquehanna raised their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Bank of America boosted their target price on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, 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, December 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.63.

NU Trading Up 0.1 %

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 firm has a 50-day moving average of $13.71 and a two-hundred day moving average of $13.34. The firm has a market capitalization of $49.28 billion, a P/E ratio of 28.72, a P/E/G ratio of 0.59 and a beta of 0.99.

Institutional Investors Weigh In On NU

A number of institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV lifted its position in shares of NU by 287.9% in 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. Carolina Wealth Advisors LLC bought a new position in shares of NU during the 3rd quarter worth approximately $44,000. Toth Financial Advisory Corp acquired a new stake in shares of NU during the 3rd quarter worth approximately $55,000. GAMMA Investing LLC grew its position in shares of NU by 81.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the company’s stock worth $56,000 after buying an additional 1,855 shares during the period. Finally, Huntington National Bank increased its stake in NU by 86.3% in the third quarter. Huntington National Bank now owns 4,601 shares of the company’s stock valued at $63,000 after purchasing an additional 2,131 shares in the last quarter. 84.02% of the stock is owned by 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.