NU (NYSE:NU) Stock Price Up 2.7% – Time to Buy?

Shares of Nu Holdings Ltd. (NYSE:NU) traded up 2.7% on Wednesday . The company traded as high as $12.02 and last traded at $11.98. 12,451,103 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 33,245,773 shares. The stock had previously closed at $11.67.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Susquehanna raised their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Citigroup cut NU from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $14.60 to $11.00 in a research note on Monday. The Goldman Sachs Group raised their price objective on NU from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their target price on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, NU currently has a consensus rating of “Hold” and an average price target of $15.63.

NU Trading Up 2.8 %

The firm has a 50 day simple moving average of $14.16 and a 200 day simple moving average of $13.37. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $57.19 billion, a PE ratio of 33.28, a P/E/G ratio of 0.58 and a beta of 0.99.

Hedge Funds Weigh In On NU

Institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC bought a new stake in shares of NU in the third quarter worth about $98,704,000. Thrivent Financial for Lutherans boosted its position in shares of NU by 23.2% during the third quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock valued at $3,517,000 after buying an additional 48,445 shares during the period. Adero Partners LLC boosted its position in shares of NU by 5.7% during the third quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after buying an additional 259,324 shares during the period. Summit Partners Public Asset Management LLC boosted its position in shares of NU by 20.0% during the third quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock valued at $4,095,000 after buying an additional 50,000 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of NU during the third quarter valued at approximately $15,829,000. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

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.