Nvni Group (NASDAQ:NVNI) Stock Price Down 4.7% – Here’s Why

Nvni Group Limited (NASDAQ:NVNI) fell 4.7% on Thursday . The company traded as low as $0.84 and last traded at $0.8699. 855,438 shares changed hands during trading, a decline of 36% from the average session volume of 1,329,537 shares. The stock had previously closed at $0.9130.

Analyst Ratings Changes

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

Nvni Group Price Performance

The business has a fifty day moving average of $1.19 and a 200-day moving average of $1.84. The stock has a market capitalization of $8.12 million, a price-to-earnings ratio of 2.02 and a beta of -0.10.

Nvni Group (NASDAQ:NVNI) last released 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 company had revenue of $8.80 million during the quarter, compared to analysts’ expectations of $15.73 million.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Narus Financial Partners LLC grew its holdings in Nvni Group by 71.8% during the third quarter. Narus Financial Partners LLC now owns 35,400 shares of the company’s stock worth $29,000 after acquiring an additional 14,800 shares during the period. Jane Street Group LLC acquired a new position in Nvni Group during the second quarter worth about $40,000. Finally, Turim 21 Investimentos Ltda. grew its holdings in Nvni Group by 50.9% during the third quarter. Turim 21 Investimentos Ltda. now owns 55,870 shares of the company’s stock worth $46,000 after acquiring an additional 18,847 shares during the period. 0.49% of the stock is owned by institutional investors and hedge funds.

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.