NU (NYSE:NU) Stock Price Up 1.3% – Here’s Why

Nu Holdings Ltd. (NYSE:NU)’s share price was up 1.3% on Wednesday . The company traded as high as $10.41 and last traded at $10.37. Approximately 26,181,857 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 33,975,875 shares. The stock had previously closed at $10.24.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NU shares. Susquehanna increased their price objective on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. KeyCorp increased their price target on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Bank of America boosted their price target on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group upped their price target on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.63.

NU Stock Performance

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 has a market cap of $49.42 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 0.59 and a beta of 0.99. The stock has a 50 day simple moving average of $13.48 and a 200 day simple moving average of $13.33.

Institutional Trading of NU

Several institutional investors and hedge funds have recently modified their holdings of NU. Massmutual Trust Co. FSB ADV increased its holdings in shares of NU by 287.9% during the third 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 in the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of NU during the third quarter valued at $44,000. Toth Financial Advisory Corp acquired a new position in NU during the 3rd quarter worth about $55,000. GAMMA Investing LLC boosted its holdings in NU by 81.9% in the third quarter. GAMMA Investing LLC now owns 4,119 shares of the company’s stock valued at $56,000 after acquiring an additional 1,855 shares during the last quarter. Finally, Huntington National Bank grew its holdings in NU by 86.3% during the 3rd quarter. Huntington National Bank now owns 4,601 shares of the company’s stock worth $63,000 after acquiring an additional 2,131 shares during the period. 84.02% of the stock is currently 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.