Nuvei (NASDAQ:NVEI) Sees Large Volume Increase

Nuvei Co. (NASDAQ:NVEI) saw strong trading volume on Tuesday . 868,694 shares were traded during mid-day trading, an increase of 49% from the previous session’s volume of 583,442 shares.The stock last traded at $30.47 and had previously closed at $28.79.

Analysts Set New Price Targets

Several research firms have commented on NVEI. JPMorgan Chase & Co. lifted their price target on Nuvei from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, December 18th. Wells Fargo & Company lowered their price objective on shares of Nuvei from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group boosted their target price on Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Royal Bank of Canada boosted their target price on Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Barclays assumed coverage on Nuvei in a research report on Wednesday, December 20th. They issued an “overweight” rating and a $34.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.24.

Nuvei Trading Up 1.5 %

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $25.36 and a two-hundred day simple moving average of $21.55.

Nuvei Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.28%. Nuvei’s dividend payout ratio is -666.56%.

Institutional Trading of Nuvei

Hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Nuvei during the 1st quarter worth approximately $26,000. IFP Advisors Inc acquired a new stake in Nuvei in the second quarter valued at approximately $27,000. Advisors Asset Management Inc. acquired a new stake in shares of Nuvei during the 1st quarter valued at $88,000. Osaic Holdings Inc. boosted its holdings in shares of Nuvei by 77.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,530 shares of the company’s stock valued at $45,000 after acquiring an additional 667 shares in the last quarter. Finally, US Bancorp DE boosted its position in Nuvei by 981.8% during the 4th quarter. US Bancorp DE now owns 1,666 shares of the company’s stock worth $44,000 after buying an additional 1,512 shares during the period. 42.45% of the stock is currently owned by institutional investors and hedge funds.

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. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.