NU (NYSE:NU) Shares Down 7% After Analyst Downgrade

Nu Holdings Ltd. (NYSE:NUGet Rating)’s stock price dropped 7% during mid-day 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. Approximately 166,313 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 16,939,130 shares. The stock had previously closed at $4.16.

A number of other analysts also recently issued reports on NU. Susquehanna lowered their target price on NU from $14.00 to $10.00 in a research report on Friday, May 13th. Moffett Nathanson initiated coverage on NU in a research report on Tuesday, April 5th. They issued a “buy” rating and a $11.00 target price on the stock. New Street Research raised NU from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Monday, July 18th. Finally, Susquehanna Bancshares lowered their target price on NU from $14.00 to $10.00 in a research report on Friday, May 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.27.

Institutional Investors Weigh In On NU

Institutional investors have recently made changes to their positions in the company. Flossbach Von Storch AG bought a new stake in shares of NU during the fourth quarter worth approximately $1,407,000. JPMorgan Chase & Co. bought a new stake in shares of NU during the fourth quarter worth approximately $108,091,000. Envestnet Asset Management Inc. bought a new stake in shares of NU during the fourth quarter worth approximately $3,957,000. Genesis Investment Management LLP boosted its holdings in shares of NU by 5.7% during the first quarter. Genesis Investment Management LLP now owns 14,223,228 shares of the company’s stock worth $109,803,000 after acquiring an additional 762,893 shares during the period. Finally, Absoluto Partners Gestao de Recursos Ltda boosted its holdings in shares of NU by 319.2% during the first quarter. Absoluto Partners Gestao de Recursos Ltda now owns 7,338,342 shares of the company’s stock worth $56,652,000 after acquiring an additional 5,587,832 shares during the period. Institutional investors own 70.71% of the company’s stock.

NU Price Performance

The business has a fifty day moving average price of $3.92 and a 200-day moving average price of $6.14. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.04.

NU (NYSE:NUGet Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $877.27 million during the quarter, compared to the consensus estimate of $749.39 million. As a group, sell-side analysts predict that Nu Holdings Ltd. will post 0.02 earnings per share for the current fiscal year.

NU Company Profile

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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.

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