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

Nu Holdings Ltd. (NYSE:NU - Get Free Report) was down 0.3% during trading on Tuesday . The stock traded as low as $11.55 and last traded at $11.70. Approximately 13,586,023 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 33,242,055 shares. The stock had previously closed at $11.74.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of NU from $12.80 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. KeyCorp upped their target price on NU from $15.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price target on NU from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Citigroup downgraded NU from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $14.60 to $11.00 in a research note on Monday, December 2nd. Finally, Itau BBA Securities cut NU from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given 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 $15.63.

NU Stock Performance

The stock has a market cap of $55.76 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 0.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The company's 50 day simple moving average is $13.84 and its 200 day simple moving average is $13.38.

Institutional Trading of NU

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its position in shares of NU by 19.9% in the second quarter. Raymond James & Associates now owns 462,694 shares of the company's stock worth $5,964,000 after buying an additional 76,880 shares during the period. Shelton Wealth Management LLC acquired a new position in shares of NU in the 2nd quarter valued at about $1,130,000. Fortis Capital Management LLC lifted its position in shares of NU by 6.6% in the second quarter. Fortis Capital Management LLC now owns 17,330 shares of the company's stock worth $223,000 after purchasing an additional 1,072 shares in the last quarter. NewSquare Capital LLC acquired a new stake in shares of NU during the second quarter worth approximately $4,804,000. Finally, Private Advisory Group LLC purchased a new position in NU during the second quarter valued at approximately $828,000. 84.02% of the stock is currently owned by 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.