Nu Holdings Ltd. (NYSE:NU – Get Rating) shares traded down 7% during trading on Tuesday after Citigroup lowered their price target on the stock from $9.00 to $7.00. Citigroup currently has a buy rating on the stock. NU traded as low as $3.86 and last traded at $3.87. 166,313 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 16,939,130 shares. The stock had previously closed at $4.16.
NU has been the topic of a number of other research reports. New Street Research upgraded NU from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Monday, July 18th. Susquehanna Bancshares lowered their target price on NU from $14.00 to $10.00 in a research note on Friday, May 13th. Moffett Nathanson began coverage on NU in a research note on Tuesday, April 5th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Susquehanna lowered their target price on NU from $14.00 to $10.00 in a research note on Friday, May 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.27.
Hedge Funds Weigh In On NU
Several hedge funds and other institutional investors have recently bought and sold shares of NU. Dragoneer Investment Group LLC acquired a new position in shares of NU in the fourth quarter worth $1,454,230,000. Redpoint Management LLC acquired a new position in shares of NU in the fourth quarter worth $795,260,000. Ribbit Capital GP III Ltd. acquired a new position in shares of NU in the fourth quarter worth $682,018,000. Capital Research Global Investors raised its holdings in shares of NU by 10.1% in the first quarter. Capital Research Global Investors now owns 49,252,241 shares of the company’s stock worth $367,972,000 after acquiring an additional 4,519,651 shares during the last quarter. Finally, Scge Management L.P. acquired a new position in shares of NU in the fourth quarter worth $416,567,000. 70.71% of the stock is owned by institutional investors and hedge funds.
NU Stock Down 8.4 %
The stock has a fifty day moving average price of $3.93 and a two-hundred day moving average price of $6.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.40 and a quick ratio of 0.40.
NU (NYSE:NU – Get Rating) last announced its quarterly earnings data on Monday, May 16th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $877.27 million during the quarter, compared to analysts’ expectations of $749.39 million. As a group, research analysts predict that Nu Holdings Ltd. will post 0.02 earnings per share for the current fiscal year.
About NU
Nu Holdings Ltd. operates as a digital financial services platform and technology company primarily in Brazil, Mexico, and Colombia. 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.