Nebius Group (NASDAQ:NBIS) Shares Down 1.3% - Here's Why

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s share price fell 1.3% during trading on Wednesday . The company traded as low as $50.05 and last traded at $50.38. 7,393,269 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 11,271,168 shares. The stock had previously closed at $51.02.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Arete Research raised Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. Northland Securities set a $47.00 price target on shares of Nebius Group and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of Nebius Group from a "sell" rating to a "hold" rating in a research report on Saturday. BWS Financial increased their target price on shares of Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Northland Capmk raised Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Nebius Group has a consensus rating of "Buy" and an average price target of $66.50.

Nebius Group Stock Performance

The firm has a market capitalization of $11.96 billion, a PE ratio of -88.80 and a beta of 3.25. The stock's 50-day simple moving average is $35.92 and its 200-day simple moving average is $32.57.

Institutional Trading of Nebius Group

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

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.

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