Nebius Group (NASDAQ:NBIS) Trading Down 1.7% – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS)’s share price was down 1.7% on Wednesday . The stock traded as low as $82.90 and last traded at $83.71. Approximately 5,865,443 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 14,826,263 shares. The stock had previously closed at $85.17.

Analyst Ratings Changes

A number of research analysts have commented on NBIS shares. Seaport Res Ptn upgraded Nebius Group to a “hold” rating in a research note on Monday, September 15th. Northland Securities boosted their price objective on Nebius Group from $206.00 to $211.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Wall Street Zen lowered Nebius Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. DA Davidson restated a “buy” rating and set a $150.00 target price on shares of Nebius Group in a report on Wednesday, November 12th. Finally, BWS Financial reiterated a “buy” rating and set a $130.00 price target on shares of Nebius Group in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Nebius Group has an average rating of “Buy” and an average target price of $144.71.

Nebius Group Stock Down 1.7%

The firm has a fifty day simple moving average of $97.99 and a 200-day simple moving average of $83.43. The company has a market cap of $21.08 billion, a PE ratio of -108.71 and a beta of 3.83.

Hedge Funds Weigh In On Nebius Group

Institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. boosted its position in shares of Nebius Group by 186.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 29,850 shares of the company’s stock worth $1,652,000 after buying an additional 19,424 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Nebius Group by 2.7% in the second quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock worth $198,514,000 after acquiring an additional 92,710 shares during the last quarter. Scientech Research LLC acquired a new stake in shares of Nebius Group during the first quarter valued at $869,000. MGO One Seven LLC purchased a new stake in Nebius Group during the 2nd quarter worth about $255,000. Finally, Salem Investment Counselors Inc. raised its stake in Nebius Group by 2,272.7% in the 3rd quarter. Salem Investment Counselors Inc. now owns 26,930 shares of the company’s stock valued at $3,023,000 after purchasing an additional 25,795 shares during the last quarter. 21.90% of the stock is owned by institutional investors and hedge funds.

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.