Nebius Group (NASDAQ:NBIS) Shares Gap Down – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $108.73, but opened at $101.83. Nebius Group shares last traded at $101.6940, with a volume of 4,574,039 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NBIS shares. CICC Research initiated coverage on Nebius Group in a research report on Tuesday, November 11th. They set an “outperform” rating and a $143.00 price objective on the stock. Northland Securities lifted their price target on shares of Nebius Group from $206.00 to $211.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. BWS Financial reiterated a “buy” rating and issued a $130.00 price target on shares of Nebius Group in a research report on Thursday, November 13th. Citizens Jmp assumed coverage on shares of Nebius Group in a research report on Wednesday, November 19th. They set a “market outperform” rating and a $175.00 price objective on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $150.00 target price on shares of Nebius Group in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.38.

Nebius Group Price Performance

The firm’s 50-day moving average price is $93.18 and its 200-day moving average price is $88.68. The stock has a market cap of $24.39 billion, a P/E ratio of -125.78 and a beta of 4.00.

Institutional Trading of Nebius Group

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada purchased a new position in shares of Nebius Group during the first quarter valued at about $1,628,000. Millennium Management LLC bought a new position in Nebius Group during the first quarter valued at approximately $11,563,000. NewEdge Advisors LLC bought a new position in Nebius Group during the first quarter valued at approximately $40,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Nebius Group during the 1st quarter valued at approximately $9,084,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Nebius Group in the 2nd quarter worth approximately $479,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

About Nebius Group

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.