Nvni Group (NASDAQ:NVNI) Trading Down 3.4% – Here’s What Happened

Shares of Nvni Group Limited (NASDAQ:NVNI) dropped 3.4% during trading on Thursday . The company traded as low as $3.44 and last traded at $3.46. Approximately 80,242 shares changed hands during trading, a decline of 89% from the average daily volume of 742,814 shares. The stock had previously closed at $3.58.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Nvni Group to a “hold” rating in a report on Saturday, August 2nd.

Nvni Group Trading Down 3.4%

The company has a market cap of $34.70 million, a P/E ratio of 8.65 and a beta of -0.24. The stock’s 50 day moving average is $6.16 and its 200-day moving average is $4.71.

Hedge Funds Weigh In On Nvni Group

A number of hedge funds have recently bought and sold shares of NVNI. Jane Street Group LLC bought a new position in Nvni Group in the 2nd quarter worth about $40,000. Soltis Investment Advisors LLC increased its holdings in shares of Nvni Group by 49.3% in the 2nd quarter. Soltis Investment Advisors LLC now owns 173,665 shares of the company’s stock worth $51,000 after purchasing an additional 57,332 shares in the last quarter. Finally, Drive Wealth Management LLC bought a new stake in shares of Nvni Group in the 1st quarter worth $90,000. Institutional investors own 0.49% of the company’s stock.

About Nvni Group

Nvni Group Limited provides a business to business SaaS platform that offers cloud solutions. The company was incorporated in 2019 and is based in São Paulo, Brazil.