NU (NYSE:NU) Sees Unusually-High Trading Volume – What’s Next?

Nu Holdings Ltd. (NYSE:NU) saw unusually-high trading volume on Wednesday . Approximately 132,805,299 shares changed hands during trading, an increase of 133% from the previous session’s volume of 56,943,941 shares.The stock last traded at $14.0050 and had previously closed at $13.99.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Needham & Company LLC started coverage on shares of NU in a report on Friday, June 26th. They set a “buy” rating and a $17.00 target price for the company. UBS Group reduced their target price on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price objective for the company. in a research report on Wednesday, June 3rd. Finally, Bank of America restated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.24.

NU Trading Down 0.7%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $67.46 billion, a PE ratio of 21.38, a PEG ratio of 0.55 and a beta of 0.95. The stock has a 50-day moving average price of $12.91 and a two-hundred day moving average price of $14.83.

NU (NYSE:NU) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. As a group, equities analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU declared that its Board of Directors has authorized a stock repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the transaction, the director directly owned 162,150 shares in the company, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Trading of NU

Institutional investors and hedge funds have recently modified their holdings of the company. LOM Asset Management Ltd purchased a new position in shares of NU during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised its holdings in NU by 14,810.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after acquiring an additional 1,481 shares during the period. Cornerstone Planning Group LLC raised its holdings in NU by 5,448.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after acquiring an additional 1,580 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of NU in the fourth quarter valued at about $27,000. Finally, Morse Asset Management Inc purchased a new position in shares of NU in the fourth quarter valued at about $31,000. 84.02% of the stock is currently owned by institutional investors.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.