NU (NYSE:NU) Shares Down 2.3% – What’s Next?

Nu Holdings Ltd. (NYSE:NU) traded down 2.3% during mid-day trading on Tuesday . The company traded as low as $10.39 and last traded at $10.41. 7,599,203 shares traded hands during mid-day 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

NU has been the topic of a number of research reports. Citigroup lowered shares of NU from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $14.60 to $11.00 in a report on Monday, December 2nd. KeyCorp boosted their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Susquehanna increased their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Finally, Bank of America boosted their price target on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, NU currently has an average rating of “Hold” and an average price target of $15.63.

NU Stock Down 2.1 %

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 company has a market cap of $49.71 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 0.59 and a beta of 0.99. The stock’s 50-day moving average is $13.17 and its 200-day moving average is $13.29.

Hedge Funds Weigh In On NU

A number of institutional investors and hedge funds have recently made changes to their positions in NU. Massmutual Trust Co. FSB ADV raised its stake in 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 buying an additional 1,422 shares during the period. Carolina Wealth Advisors LLC bought a new stake in shares of NU during the third quarter valued at approximately $44,000. Toth Financial Advisory Corp acquired a new position in shares of NU during the third quarter worth approximately $55,000. GAMMA Investing LLC lifted its holdings in shares of NU by 81.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the company’s stock worth $56,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Huntington National Bank grew its position in NU by 86.3% in the 3rd 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 during the period. Institutional investors own 84.02% 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.