NU (NYSE:NU) Trading 0.3% Higher - Here's Why

Nu Holdings Ltd. (NYSE:NU - Get Free Report) shot up 0.3% on Friday . The company traded as high as $10.45 and last traded at $10.36. 9,263,066 shares changed hands during trading, a decline of 73% from the average session volume of 33,760,535 shares. The stock had previously closed at $10.33.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of NU from $12.80 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Citigroup downgraded shares of NU from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $14.60 to $11.00 in a research report on Monday, December 2nd. The Goldman Sachs Group raised their target price on shares of NU from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. 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. Finally, Susquehanna raised their price target on NU from $16.00 to $18.00 and gave the stock a "positive" rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.63.

NU Stock Performance

The firm's fifty day moving average is $13.65 and its 200 day moving average is $13.33. The firm has a market capitalization of $49.47 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 0.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44.

Hedge Funds Weigh In On NU

A number of hedge funds have recently added to or reduced their stakes in NU. Massmutual Trust Co. FSB ADV raised its holdings in NU by 287.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company's stock valued at $26,000 after buying an additional 1,422 shares in the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of NU in the 3rd quarter valued at approximately $44,000. Toth Financial Advisory Corp acquired a new stake in NU in the 3rd quarter worth approximately $55,000. GAMMA Investing LLC boosted its position in NU by 81.9% during the third quarter. GAMMA Investing LLC now owns 4,119 shares of the company's stock worth $56,000 after purchasing an additional 1,855 shares during the period. Finally, Huntington National Bank grew its holdings in NU by 86.3% during the third quarter. Huntington National Bank now owns 4,601 shares of the company's stock valued at $63,000 after purchasing an additional 2,131 shares during the last quarter. Institutional investors and hedge funds own 84.02% 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.