Nebius Group (NASDAQ:NBIS) Shares Down 9.1% - Here's What Happened

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) was down 9.1% during trading on Wednesday . The company traded as low as $24.43 and last traded at $24.71. Approximately 8,348,866 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 10,302,914 shares. The stock had previously closed at $27.17.

Analysts Set New Price Targets

Several research analysts have issued reports on NBIS shares. BWS Financial restated a "buy" rating and issued a $60.00 price target on shares of Nebius Group in a research report on Tuesday, March 4th. DA Davidson began coverage on Nebius Group in a research report on Tuesday, February 25th. They set a "buy" rating and a $50.00 target price on the stock.

Nebius Group Stock Performance

The stock has a market capitalization of $4.97 billion, a PE ratio of -37.04 and a beta of 2.47. The business has a 50 day moving average of $32.94.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nebius Group stock. Centaurus Financial Inc. purchased a new position in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 343,130 shares of the company's stock, valued at approximately $9,505,000. Centaurus Financial Inc. owned about 0.15% of Nebius Group at the end of the most recent quarter. 21.90% of the stock is 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.