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- 1 NYSE: NU stock lost 1.36% of its trading price on August 23.
- 2 In the 52-week time frame, NU stock’s highest price was $8.29, and its lowest traded price was $3.39.
- 3 From June 22 to August 15, NU’s share price consolidated between $7 and $7.59.
NYSE: NU stock lost 1.36% of its trading price on the August 23 trading session. It opened at $7.25, lowering to $7.14; it hit a high of $7.32 and closed at $7.25 with an intraday trading volume of 1.582 Million.
In the 52-week time frame, NU stock’s highest traded price was $8.29, and the lowest price was $3.39. Nu Holdings Ltd has a market capitalization of $33.751 Billion, and its share average trading volume is 26.863 Million.
The annual price target of NU shares is $8.52, which is around 18.88% greater than its press time trading price in the weekly time frame. The stock price declined over 4.95% in a week and approximately 9.20% in a month.
NU Stock Price Analysis
Since the past few trading sessions, NU stock trading volume reflected buyers’ dominance. However, in the first half of the August 24 trading session, sellers were dominating.
At press time, NU stock was trading below the 50-day exponential moving average (EMA), and at the same time, it was above the 100-day EMA. If sellers dominate in the coming session, NU’s share price could meet immediate support of $6.61 and possibly the next support of $5.80.
If buyers continued their control over sellers in coming sessions, NU stock might surge and meet its immediate resistance of $7.42 and possibly the next resistance of $8.01.
Despite weekly and monthly losses, NU Holdings Ltd.’s stock price reflected positivity in quarterly, half-year, and yearly time frames. From June 22 to August 15, NU’s share price has been consolidating between $7 to $7.59.
The current trading price of NU stock signifies that by the end of the upcoming week, it might overtake its annual price target, and it may soon register a fresh 52-week high.
According to TradingView, 2.161 Billion NU shares are free-floating, and more than 2.582 Billion shares are closely held by the company’s financial backers or the board of directors.
There is a high chance of a price reversal since the company impressed investors in both quarters of 2023 by reporting more revenue than estimated figures.
Nu Holdings Ltd Earnings & Revenue
In Q1 2023, Nu Holdings Ltd was expected to report $1.39 Billion in revenue, but it reported $1.60 billion in revenue. Similarly, in Q2, expectations of reported revenue were $1.73 Billion, but once again, the company reflected positivity by reporting 7.80% more revenue than the estimated figures.
For the third and fourth quarter of 2023, the company is expected to report $2.01 Billion & $2.05 Billion simultaneously. Earnings per share of the firm surged over 92% in the first quarter and over 21% in the second quarter of 2023.
In the financial year 2022, Nu Holdings Ltd reported $4.80 Billion in revenue from which its gross profit was 53%, earnings before interest, taxes, depreciation, and amortization (EBITDA) of -7%, earnings before interest and taxes (EBIT) of -8%, and net income of -10%.
Technical Levels
Major Support: $6.61 and $5.80
Major Resistance: $7.42 and $8.01
Conclusion
Immense selling pressure was observed in the NU stock trading volume, but its trading price doesn’t reflect any significant change. Technical analysis shows that NU Holdings Ltd.’s share price might soon bypass its annual price target and register a fresh 52-week high by the end of next week.
Disclaimer
The views and opinions stated by the author or anyone named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
