Nebius Group (NASDAQ:NBIS) Trading Down 4% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS)’s share price dropped 4% on Wednesday . The company traded as low as $95.56 and last traded at $96.21. Approximately 10,026,285 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 11,967,354 shares. The stock had previously closed at $100.24.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citizens Jmp initiated coverage on shares of Nebius Group in a research report on Wednesday, November 19th. They issued a “market outperform” rating and a $175.00 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $120.00 price target on shares of Nebius Group in a report on Wednesday, September 17th. BWS Financial reaffirmed a “buy” rating and set a $130.00 price target on shares of Nebius Group in a research note on Thursday, November 13th. DA Davidson reissued a “buy” rating and issued a $150.00 price objective on shares of Nebius Group in a research report on Wednesday, November 12th. Finally, Wall Street Zen lowered Nebius Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $144.71.

Nebius Group Trading Down 4.0%

The company has a 50-day moving average of $95.61 and a 200-day moving average of $84.89. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of -124.95 and a beta of 4.00.

Institutional Investors Weigh In On Nebius Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada bought a new position in shares of Nebius Group during the first quarter valued at approximately $1,628,000. Amundi acquired a new position in Nebius Group during the 1st quarter valued at approximately $13,433,000. Millennium Management LLC bought a new position in Nebius Group during the 1st quarter worth $11,563,000. NewEdge Advisors LLC acquired a new stake in Nebius Group in the first quarter worth $40,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Nebius Group in the first quarter valued at $9,084,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

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.