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

Shares of Nu Holdings Ltd. (NYSE:NU - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $13.53, but opened at $12.71. NU shares last traded at $12.86, with a volume of 11,109,053 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on NU from $14.50 to $15.00 and gave the company a "neutral" rating in a research note on Monday, August 19th. UBS Group lowered shares of NU from a "buy" rating to a "neutral" rating and set a $13.50 price target for the company. in a research report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of NU from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Barclays raised their target price on shares of NU from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday, August 16th. Finally, Bank of America upped their price target on shares of NU from $12.80 to $15.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.21.

NU Price Performance

The stock has a 50-day moving average price of $14.32 and a 200 day moving average price of $13.34. The firm has a market capitalization of $59.76 billion, a PE ratio of 34.81, a PEG ratio of 0.66 and a beta of 1.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20.

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Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. LRI Investments LLC boosted its stake in NU by 3.1% during the 3rd quarter. LRI Investments LLC now owns 24,983 shares of the company's stock worth $341,000 after purchasing an additional 743 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of NU by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 26,517 shares of the company's stock worth $362,000 after buying an additional 801 shares in the last quarter. GAMMA Investing LLC boosted its position in NU by 56.2% during the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company's stock worth $29,000 after acquiring an additional 815 shares during the last quarter. Marcum Wealth LLC grew its stake in NU by 2.5% during the 3rd quarter. Marcum Wealth LLC now owns 37,221 shares of the company's stock valued at $508,000 after acquiring an additional 903 shares in the last quarter. Finally, Fortis Capital Management LLC raised its holdings in NU by 6.6% in the 2nd quarter. Fortis Capital Management LLC now owns 17,330 shares of the company's stock valued at $223,000 after acquiring an additional 1,072 shares during the last quarter. Institutional investors and hedge funds own 80.90% of the company's stock.

NU Company Profile

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.