Nuvei (NASDAQ:NVEI) Reaches New 1-Year High – Here’s Why

Nuvei Co. (NASDAQ:NVEI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.97 and last traded at $33.97, with a volume of 1267046 shares traded. The stock had previously closed at $33.57.

Nuvei Price Performance

The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of -377.51, a P/E/G ratio of 1.85 and a beta of 2.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.06 and a current ratio of 1.06. The company has a fifty day simple moving average of $33.42 and a 200 day simple moving average of $32.87.

Nuvei (NASDAQ:NVEI) last released its earnings results on Tuesday, November 12th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Nuvei had a negative net margin of 0.87% and a positive return on equity of 6.98%. The business had revenue of $357.62 million during the quarter, compared to the consensus estimate of $340.60 million. Equities research analysts forecast that Nuvei Co. will post 1.09 EPS for the current fiscal year.

Institutional Trading of Nuvei

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Nuvei during the second quarter valued at approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Nuvei by 7.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,956 shares of the company’s stock valued at $420,000 after acquiring an additional 861 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Nuvei by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,663 shares of the company’s stock valued at $1,703,000 after acquiring an additional 1,067 shares during the period. Longfellow Investment Management Co. LLC bought a new stake in shares of Nuvei during the 2nd quarter valued at $36,000. Finally, Swiss National Bank grew its position in shares of Nuvei by 1.0% during the 1st quarter. Swiss National Bank now owns 125,400 shares of the company’s stock valued at $3,963,000 after acquiring an additional 1,200 shares during the period. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Nuvei Company Profile

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.