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Nebius Group (NASDAQ:NBIS) Shares Down 2.2% - What's Next?

Nebius Group logo with Computer and Technology background

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NBIS. Wall Street Zen upgraded Nebius Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. 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. Arete Research upgraded Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Arete started coverage on Nebius Group in a report on Thursday, June 5th. They set a "buy" rating and a $84.00 price objective on the stock. Finally, Northland Capmk upgraded Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Nebius Group currently has an average rating of "Buy" and an average price target of $66.50.

Check Out Our Latest Stock Report on NBIS

Nebius Group Trading Down 2.2%

The firm has a market cap of $10.86 billion, a P/E ratio of -80.79 and a beta of 3.25. The company has a fifty day moving average price of $41.47 and a two-hundred day moving average price of $33.96.

Institutional Investors Weigh In On Nebius Group

Several institutional investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its stake in Nebius Group by 1,413.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,135 shares of the company's stock valued at $63,000 after acquiring an additional 1,060 shares in the last quarter. IFP Advisors Inc bought a new stake in Nebius Group in the 1st quarter valued at approximately $25,000. Banque Cantonale Vaudoise bought a new stake in Nebius Group in the 1st quarter valued at approximately $33,000. First Horizon Advisors Inc. bought a new stake in Nebius Group in the 1st quarter valued at approximately $33,000. Finally, Manchester Capital Management LLC bought a new stake in Nebius Group in the 1st quarter valued at approximately $34,000. Institutional investors own 21.90% of the company's stock.

Nebius Group Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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