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

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) fell 1.3% during trading on Tuesday . The company traded as low as $46.65 and last traded at $47.22. 3,888,613 shares traded hands during trading, a decline of 70% from the average session volume of 12,799,899 shares. The stock had previously closed at $47.84.

Analyst Ratings Changes

A number of brokerages recently commented on NBIS. DA Davidson upped their price target on shares of Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Northland Securities set a $47.00 price target on shares of Nebius Group and gave the company an "outperform" rating in a research note on Wednesday, May 21st. BWS Financial upped their price target on shares of Nebius Group from $60.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Arete Research upgraded shares of Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Arete began coverage on shares of Nebius Group in a research note on Thursday, June 5th. They set a "buy" rating and a $84.00 price target on the stock. 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's stock. According to MarketBeat.com, the company presently 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 $10.42 billion, a PE ratio of -77.64 and a beta of 3.25. The company's 50 day simple moving average is $42.38 and its 200-day simple moving average is $34.16.

Nebius Group (NASDAQ:NBIS - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported ($0.48) earnings per share (EPS) for the quarter. The business had revenue of $55.30 million for the quarter. During the same period in the previous year, the firm posted ($0.25) EPS. The firm's quarterly revenue was up 385 on a year-over-year basis. On average, equities research analysts forecast that Nebius Group N.V. will post -1.1 earnings per share for the current fiscal year.

Institutional Trading of Nebius Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. PFG Investments LLC bought a new position in shares of Nebius Group in the 1st quarter worth $860,000. SeaCrest Wealth Management LLC bought a new position in shares of Nebius Group in the 1st quarter worth $453,000. Colonial River Investments LLC bought a new position in shares of Nebius Group in the 1st quarter worth $330,000. Vontobel Holding Ltd. bought a new position in shares of Nebius Group in the 1st quarter worth $937,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Nebius Group in the 1st quarter worth $220,000. 21.90% of the stock is currently owned by hedge funds and other institutional investors.

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.