Short Interest in Nu Holdings Ltd. (NYSE:NU) Grows By 24.4%

Nu Holdings Ltd. (NYSE:NU) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 169,240,000 shares, a growth of 24.4% from the February 28th total of 136,000,000 shares. Approximately 5.4% of the company’s shares are short sold. Based on an average daily volume of 49,250,000 shares, the short-interest ratio is currently 3.4 days.

NU Price Performance

Shares of NYSE NU traded up $0.15 during trading on Wednesday, hitting $10.58. 55,875,937 shares of the company were exchanged, compared to its average volume of 38,153,835. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. NU has a 1 year low of $9.67 and a 1 year high of $16.15. The firm’s fifty day moving average price is $11.96 and its 200 day moving average price is $12.67. The company has a market cap of $50.42 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 0.48 and a beta of 1.14.

NU (NYSE:NU) last issued its earnings results on Thursday, February 20th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.17 billion. NU had a net margin of 17.12% and a return on equity of 30.99%. On average, sell-side analysts expect that NU will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NU

Several hedge funds have recently added to or reduced their stakes in NU. Baader Bank Aktiengesellschaft raised its position in shares of NU by 19.6% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 355,332 shares of the company’s stock worth $3,680,000 after purchasing an additional 58,183 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in shares of NU by 6.2% in the third quarter. Royal London Asset Management Ltd. now owns 1,305,453 shares of the company’s stock valued at $17,819,000 after acquiring an additional 76,009 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in NU during the third quarter worth about $69,022,000. Baillie Gifford & Co. grew its holdings in NU by 7.1% in the fourth quarter. Baillie Gifford & Co. now owns 224,979,342 shares of the company’s stock valued at $2,330,786,000 after purchasing an additional 14,875,891 shares during the period. Finally, Franklin Resources Inc. increased its position in NU by 5.7% during the third quarter. Franklin Resources Inc. now owns 5,060,504 shares of the company’s stock worth $74,288,000 after purchasing an additional 271,903 shares during the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NU. JPMorgan Chase & Co. decreased their price objective on NU from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Barclays decreased their price target on shares of NU from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, UBS Group dropped their price objective on shares of NU from $15.50 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, NU has an average rating of “Hold” and an average target price of $15.47.

About NU

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.