Nebius Group (NASDAQ:NBIS) Shares Down 5.4% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS) shares fell 5.4% during mid-day trading on Tuesday . The stock traded as low as $49.34 and last traded at $49.76. 10,586,601 shares were traded during trading, a decline of 5% from the average session volume of 11,102,272 shares. The stock had previously closed at $52.58.

Analysts Set New Price Targets

Several research firms have recently weighed in on NBIS. Arete initiated coverage on shares of Nebius Group in a research note on Thursday, June 5th. They issued a “buy” rating and a $84.00 price target on the stock. Arete Research upgraded Nebius Group to a “strong-buy” rating in a research report on Thursday, June 5th. BWS Financial upped their price target on Nebius Group from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. Northland Securities set a $47.00 price target on Nebius Group and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Finally, Northland Capmk upgraded shares of Nebius Group to a “strong-buy” rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Nebius Group currently has a consensus rating of “Buy” and an average target price of $64.00.

Nebius Group Price Performance

The firm has a market capitalization of $12.03 billion, a P/E ratio of -89.31 and a beta of 3.25. The firm’s fifty day moving average price is $29.77 and its 200-day moving average price is $30.86.

Institutional Investors Weigh In On Nebius Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd bought a new position in Nebius Group in the first quarter worth $331,474,000. Accel Leaders 4 Associates L.P. acquired a new position in shares of Nebius Group in the 1st quarter valued at approximately $96,704,000. Invesco Ltd. acquired a new stake in shares of Nebius Group in the 1st quarter valued at about $73,782,000. Fred Alger Management LLC bought a new position in Nebius Group in the first quarter valued at $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in Nebius Group in the first quarter valued at approximately $46,822,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

Nebius Group Company Profile

Nebius Group N.V., a technology company, builds intelligent products and services powered by machine learning and other technologies to help consumers and businesses navigate the online and offline world. The company’s services include Nebius AI, an AI-centric cloud platform that offers infrastructure and computing capability for AI deployment and machine-learning oriented solutions; and Toloka AI that offers generative AI (GenAI) solutions at every stage of the GenAI lifecycle, such as data annotation and generation, model training and fine-tuning, and quality assessment of large language model for accuracy and reliability.