Nebius Group (NASDAQ:NBIS) Shares Down 7.7% – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS)’s stock price dropped 7.7% during trading on Wednesday . The stock traded as low as $91.71 and last traded at $94.36. Approximately 35,341,495 shares were traded during mid-day trading, an increase of 143% from the average daily volume of 14,566,989 shares. The stock had previously closed at $102.22.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. DA Davidson restated a “buy” rating and set a $150.00 price objective on shares of Nebius Group in a research note on Wednesday. Northland Securities increased their price objective on shares of Nebius Group from $206.00 to $211.00 and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Nebius Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 30th. CICC Research initiated coverage on shares of Nebius Group in a research note on Tuesday. They set an “outperform” rating and a $143.00 price target on the stock. Finally, Seaport Res Ptn raised shares of Nebius Group to a “hold” rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Nebius Group has a consensus rating of “Buy” and an average price target of $139.67.

Nebius Group Price Performance

The stock has a 50 day moving average of $108.57 and a 200 day moving average of $70.09. The company has a quick ratio of 14.70, a current ratio of 14.70 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Nebius Group

Large investors have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd increased its stake in Nebius Group by 12.4% during the second quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock valued at $976,681,000 after purchasing an additional 1,949,708 shares during the last quarter. Accel Leaders 4 Associates L.P. acquired a new position in shares of Nebius Group in the 1st quarter valued at about $96,704,000. Invesco Ltd. grew its position in shares of Nebius Group by 2.7% during the 2nd quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock valued at $198,514,000 after buying an additional 92,710 shares during the last quarter. Fred Alger Management LLC acquired a new stake in Nebius Group during the first quarter worth about $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in Nebius Group in the first quarter worth about $46,822,000. 21.90% of the stock is currently owned by 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.