NU (NYSE:NU) Shares Gap Down – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU) shares gapped down before the market opened on Thursday . The stock had previously closed at $15.64, but opened at $14.31. NU shares last traded at $14.13, with a volume of 14,357,606 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. KeyCorp upped their price target on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group downgraded NU from a “buy” rating to a “neutral” rating and set a $13.50 target price on the stock. in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Susquehanna upped their target price on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their target price on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.21.

NU Price Performance

The company has a market cap of $68.20 billion, a PE ratio of 46.19, a P/E/G ratio of 0.72 and a beta of 1.13. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $14.45 and a two-hundred day moving average of $13.17.

NU (NYSE:NU) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the prior year, the firm posted $0.05 EPS. Research analysts predict that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NU

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of NU by 287.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock valued at $26,000 after buying an additional 1,422 shares during the period. GAMMA Investing LLC lifted its holdings in shares of NU by 56.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $29,000 after buying an additional 815 shares during the period. Carolina Wealth Advisors LLC bought a new position in shares of NU during the 3rd quarter valued at $44,000. ORG Partners LLC bought a new position in shares of NU during the 2nd quarter valued at $54,000. Finally, Toth Financial Advisory Corp bought a new position in shares of NU during the 3rd quarter valued at $55,000. 80.90% of the stock is owned by institutional investors.

NU Company Profile

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.