Nebius Group (NASDAQ:NBIS) Trading Down 8.4% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS)’s stock price fell 8.4% during mid-day trading on Wednesday . The company traded as low as $78.44 and last traded at $82.39. 15,843,028 shares were traded during trading, an increase of 24% from the average session volume of 12,817,519 shares. The stock had previously closed at $89.95.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NBIS. DA Davidson reiterated a “buy” rating and issued a $150.00 price objective on shares of Nebius Group in a research note on Wednesday, November 12th. BWS Financial reiterated a “buy” rating and issued a $130.00 price target on shares of Nebius Group in a research report on Thursday, November 13th. Citizens Jmp initiated coverage on shares of Nebius Group in a research note on Wednesday, November 19th. They set a “market outperform” rating and a $175.00 price target for the company. Weiss Ratings downgraded shares of Nebius Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, January 15th. Finally, Morgan Stanley assumed coverage on shares of Nebius Group in a report on Thursday, January 15th. They issued an “equal weight” rating and a $126.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.38.

Nebius Group Stock Performance

The company has a market cap of $20.75 billion, a PE ratio of -107.00 and a beta of 3.90. The stock’s 50-day simple moving average is $93.96 and its 200 day simple moving average is $91.65.

Hedge Funds Weigh In On Nebius Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd lifted its holdings in shares of Nebius Group by 12.4% in the 2nd quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock valued at $976,681,000 after buying an additional 1,949,708 shares during the period. Fred Alger Management LLC raised its position in Nebius Group by 33.4% in the third quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock worth $1,137,551,000 after acquiring an additional 2,536,832 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in Nebius Group by 55.7% in the third quarter. Jericho Capital Asset Management L.P. now owns 4,607,497 shares of the company’s stock valued at $517,284,000 after acquiring an additional 1,648,497 shares during the period. Invesco Ltd. boosted 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 worth $198,514,000 after purchasing an additional 92,710 shares in the last quarter. Finally, Rovida Investment Management Ltd boosted its position in shares of Nebius Group by 26.0% during the 3rd quarter. Rovida Investment Management Ltd now owns 2,193,647 shares of the company’s stock worth $246,193,000 after purchasing an additional 453,000 shares in the last quarter. Institutional investors and hedge funds 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.