NU (NYSE:NU) Trading 2.6% Higher – Here’s Why

Shares of Nu Holdings Ltd. (NYSE:NU) rose 2.6% during mid-day trading on Monday . The company traded as high as $15.70 and last traded at $15.63. Approximately 7,144,188 shares were traded during trading, a decline of 78% from the average daily volume of 31,783,174 shares. The stock had previously closed at $15.23.

Analysts Set New Price Targets

A number of brokerages have recently commented on NU. JPMorgan Chase & Co. raised their price target on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, August 19th. UBS Group downgraded shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target on the stock. in a research report on Friday, August 2nd. Bank of America raised their price objective on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Barclays upped their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Susquehanna reiterated a “positive” rating and set a $16.00 price target on shares of NU in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, NU has an average rating of “Moderate Buy” and a consensus price target of $15.21.

NU Price Performance

The company has a market cap of $74.54 billion, a P/E ratio of 50.84, a P/E/G ratio of 0.72 and a beta of 1.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a 50-day simple moving average of $14.43 and a 200 day simple moving average of $13.15.

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

Institutional Inflows and Outflows

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

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.