Nebius Group (NASDAQ:NBIS) Trading Down 2.2% - Here's Why

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) traded down 2.2% on Wednesday . The stock traded as low as $45.95 and last traded at $46.07. 4,159,519 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 11,212,549 shares. The stock had previously closed at $47.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson increased their price objective on Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Monday, June 16th. Northland Securities set a $47.00 price objective on Nebius Group and gave the company an "outperform" rating in a report on Wednesday, May 21st. Northland Capmk upgraded shares of Nebius Group to a "strong-buy" rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of Nebius Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Arete Research upgraded shares of Nebius Group to a "strong-buy" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $66.50.

Nebius Group Stock Up 0.2%

The business has a fifty day simple moving average of $41.93 and a 200 day simple moving average of $34.04. The company has a market cap of $10.87 billion, a price-to-earnings ratio of -80.91 and a beta of 3.25.

Institutional Investors Weigh In On Nebius Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Nebius Group in the second quarter valued at $479,000. High Net Worth Advisory Group LLC acquired a new stake in Nebius Group in the second quarter valued at $221,000. Westbourne Investments Inc. acquired a new stake in Nebius Group in the second quarter valued at $1,719,000. Lbmc Investment Advisors LLC acquired a new position in shares of Nebius Group during the 2nd quarter worth $398,000. Finally, Wesbanco Bank Inc. acquired a new position in shares of Nebius Group during the 2nd quarter worth $277,000. 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.