NU (NYSE:NU) Shares Gap Down - Here's Why

Nu Holdings Ltd. (NYSE:NU - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $15.64, but opened at $14.31. NU shares last traded at $14.13, with a volume of 14,357,606 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NU shares. Itau BBA Securities lowered NU from an "outperform" rating to a "market perform" rating in a research note on Thursday. Susquehanna raised their price target on NU from $16.00 to $18.00 and gave the stock a "positive" rating in a research report on Thursday. UBS Group cut shares of NU from a "buy" rating to a "neutral" rating and set a $13.50 price objective on the stock. in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of NU from $14.50 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, August 19th. Finally, KeyCorp boosted their price objective on NU from $15.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.21.

NU Trading Down 2.9 %

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $72.37 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 0.72 and a beta of 1.13. The company's 50-day moving average is $14.47 and its 200-day moving average is $13.19.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the prior year, the business posted $0.05 EPS. Research analysts anticipate that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of NU

A number of institutional investors and hedge funds have recently bought and sold shares of NU. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of NU in the 3rd quarter valued at $15,829,000. Maverick Capital Ltd. lifted its holdings in shares of NU by 1.8% in the 3rd quarter. Maverick Capital Ltd. now owns 12,118,901 shares of the company's stock valued at $165,423,000 after buying an additional 213,672 shares during the period. Kolinsky Wealth Management LLC acquired a new stake in shares of NU during the 3rd quarter valued at approximately $288,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in NU by 171.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,281,901 shares of the company's stock valued at $72,098,000 after buying an additional 3,339,036 shares in the last quarter. Finally, Circle Wealth Management LLC grew its stake in NU by 143.3% in the 3rd quarter. Circle Wealth Management LLC now owns 104,068 shares of the company's stock worth $1,421,000 after acquiring an additional 61,288 shares during the period. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

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.