Nvni Group (NASDAQ:NVNI) Stock Price Down 5.5% – Here’s Why

Nvni Group Limited (NASDAQ:NVNI) shares were down 5.5% during trading on Thursday . The stock traded as low as $1.00 and last traded at $1.03. Approximately 42,195 shares were traded during trading, a decline of 65% from the average session volume of 119,440 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Nvni Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Nvni Group Stock Performance

The stock has a 50 day moving average of $1.09 and a two-hundred day moving average of $1.31. The firm has a market capitalization of $10.33 million, a P/E ratio of 2.57 and a beta of -0.07.

Nvni Group (NASDAQ:NVNI) last announced its earnings results on Thursday, April 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.67). The business had revenue of $8.80 million during the quarter, compared to analysts’ expectations of $15.73 million.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Nvni Group stock. Turim 21 Investimentos Ltda. raised its position in shares of Nvni Group Limited (NASDAQ:NVNI) by 50.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,870 shares of the company’s stock after acquiring an additional 18,847 shares during the period. Turim 21 Investimentos Ltda. owned approximately 0.56% of Nvni Group worth $46,000 as of its most recent SEC filing. 0.49% of the stock is owned by hedge funds and other institutional investors.

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.