Nebius Group (NASDAQ:NBIS) Shares Down 3.3% - Here's Why

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shares traded down 3.3% during mid-day trading on Tuesday . The stock traded as low as $48.15 and last traded at $48.82. 3,668,360 shares were traded during trading, a decline of 67% from the average session volume of 11,192,562 shares. The stock had previously closed at $50.46.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NBIS. Northland Capmk raised Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. Arete Research raised shares of Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Arete initiated coverage on shares of Nebius Group in a research report on Thursday, June 5th. They set a "buy" rating and a $84.00 target price for the company. BWS Financial lifted their price target on shares of Nebius Group from $60.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Northland Securities set a $47.00 price target on shares of Nebius Group and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $66.50.

Nebius Group Trading Down 0.7%

The firm has a market cap of $11.31 billion, a P/E ratio of -84.16 and a beta of 3.25. The stock has a 50 day simple moving average of $34.80 and a 200-day simple moving average of $32.36.

Institutional Investors Weigh In On Nebius Group

Large investors have recently bought and sold shares of the business. IFP Advisors Inc purchased a new position in shares of Nebius Group in the 1st quarter worth $25,000. Banque Cantonale Vaudoise bought a new position in shares of Nebius Group in the 1st quarter valued at about $33,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group in the 1st quarter valued at about $33,000. Manchester Capital Management LLC purchased a new position in Nebius Group in the first quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new stake in Nebius Group during the first quarter worth approximately $36,000. Institutional investors 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.