NU (NYSE:NU) Stock Price Down 0.3% - Here's Why

Nu Holdings Ltd. (NYSE:NU) saw its stock price decline by 0.3% on Tuesday. The stock traded down to a low of $11.55 before recovering slightly to close at $11.70. During the midday trading session, approximately 13,586,023 shares were exchanged, which is a significant decrease of 59% compared to the average trading volume of 33,242,055 shares. The previous closing price for NU stock was $11.74.

Analysts Set New Price Targets

Recent updates from several research firms have provided varying opinions on NU’s future stock value. KeyCorp adjusted their price target from $15.00 to $17.00, stating an "overweight" rating for the stock as of November 14th. Similarly, Susquehanna adjusted their target upward from $16.00 to $18.00, giving NU a “positive” rating. Goldman Sachs also increased their estimate, moving from $17.00 to $19.00, while maintaining a "buy" rating. In contrast, Bank of America raised their target from $12.80 to $15.00 but assigned a more cautious "neutral" rating. Citigroup, however, took a bearish stance, downgrading NU from a "neutral" to a "sell" and lowering their target price from $14.60 to $11.00. Overall, one analyst has a sell rating, four have a hold rating, and five have a buy rating on the stock, resulting in a consensus rating of "Hold" with an average price target of $15.63.

NU Stock Performance

Analyzing the stock's technical performance, it currently has a 50-day moving average of $13.87 and a 200-day moving average of $13.38. Financial ratios indicate that NU has a quick ratio of 0.44 and a current ratio of 0.44, highlighting its liquidity position. The company’s debt-to-equity ratio stands at 0.20, reflecting moderate leverage. With a market capitalization of $55.90 billion, NU exhibits a price-to-earnings ratio of 32.50 and a price-to-earnings-growth ratio of 0.59, alongside a beta of 0.99, suggesting it has a volatility similar to that of the market.

Hedge Funds Weigh In On NU

Institutional investors have been active in adjusting their positions in NU. In the third quarter, Fisher Asset Management LLC acquired a new stake worth approximately $98,704,000. Additionally, Thrivent Financial for Lutherans increased its holdings by 23.2%, now owning 257,648 shares valued at around $3.5 million. Adero Partners LLC also raised its stake by 5.7%, bringing their total to 4,819,355 shares worth around $65.78 million. Other significant investors include Summit Partners Public Asset Management LLC and Royal London Asset Management Ltd., with both increasing their holdings as well. Overall, institutional investors and hedge funds collectively own 84.02% of NU's stock.

About NU

Nu Holdings Ltd. provides a digital banking platform and a suite of digital financial services across Brazil, Mexico, Colombia, and other international markets. Their offerings include Nu credit and debit cards, Ultraviolet credit and debit cards, and mobile payment solutions, which allow users to manage transfers, bill payments, and everyday purchases through mobile applications.

Should you invest $1,000 in NU right now?

Before making a decision on investing in NU, it’s advised to consider insights from top-rated research analysts who track market performance closely. Recently, it was noted that NU did not make it to the list of five stocks that leading analysts recommend as better investment opportunities at this time. Therefore, while NU currently holds a "Hold" rating among analysts, other stocks may present a more attractive buying prospect.

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