Nu Holdings Ltd. (NYSE:NU – Get Free Report) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 92,600,000 shares, an increase of 23.6% from the June 30th total of 74,930,000 shares. Based on an average daily volume of 26,210,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.1% of the company’s stock are short sold.
Hedge Funds Weigh In On NU
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC boosted its position in shares of NU by 1,157.4% during the first quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock worth $1,192,590,000 after buying an additional 92,015,719 shares during the period. Baillie Gifford & Co. boosted its position in shares of NU by 47.6% during the first quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock worth $2,021,540,000 after buying an additional 54,681,625 shares during the period. Sands Capital Management LLC boosted its position in shares of NU by 92.7% during the fourth quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock worth $709,888,000 after buying an additional 40,992,413 shares during the period. Jennison Associates LLC boosted its position in shares of NU by 160.9% during the fourth quarter. Jennison Associates LLC now owns 65,813,072 shares of the company’s stock worth $548,223,000 after buying an additional 40,584,189 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of NU by 20.7% during the fourth quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock worth $1,459,403,000 after buying an additional 30,002,685 shares during the period. 80.90% of the stock is currently owned by institutional investors and hedge funds.
NU Stock Performance
NU stock traded up $0.01 during midday trading on Tuesday, reaching $12.23. The company had a trading volume of 2,142,015 shares, compared to its average volume of 28,486,453. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $12.34 and a 200 day moving average price of $11.36. NU has a fifty-two week low of $6.61 and a fifty-two week high of $13.64. The firm has a market capitalization of $58.29 billion, a PE ratio of 46.98, a P/E/G ratio of 0.58 and a beta of 1.14.
Analysts Set New Price Targets
A number of research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on NU from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group boosted their price objective on NU from $10.80 to $15.20 and gave the stock a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. lowered NU from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $14.50 in a research report on Monday, July 22nd. KeyCorp lifted their target price on NU from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Barclays initiated coverage on NU in a research report on Wednesday, June 26th. They set an “overweight” rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.98.
Check Out Our Latest Research Report on NU
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.
Further Reading
- Five stocks we like better than NU
- What is a Dividend King?
- Why SoFi Stock is an Unmissable Growth Opportunity
- What is Short Interest? How to Use It
- Has Micron’s Stock Drop Turned Into A Screaming Buy?
- How to Start Investing in Real Estate
- Should You Invest in Bonds? Here’s What to Know
Receive News & Ratings for NU Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NU and related companies with MarketBeat.com's FREE daily email newsletter.