Nebius Group (NASDAQ:NBIS) Stock Price Down 1.6% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS) shares traded down 1.6% on Thursday . The stock traded as low as $48.82 and last traded at $49.75. 4,784,549 shares changed hands during trading, a decline of 57% from the average session volume of 11,152,203 shares. The stock had previously closed at $50.57.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Arete assumed coverage on shares of Nebius Group in a research note on Thursday, June 5th. They set a “buy” rating and a $84.00 target price for the company. Northland Securities set a $47.00 target price on shares of Nebius Group and gave the stock an “outperform” rating in a research note on Wednesday, May 21st. Arete Research upgraded shares of Nebius Group to a “strong-buy” rating in a research note on Thursday, June 5th. Northland Capmk upgraded shares of Nebius Group to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, DA Davidson set a $45.00 price target on shares of Nebius Group and gave the stock a “buy” rating in a report on Monday, May 19th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Nebius Group has a consensus rating of “Buy” and an average target price of $64.00.

Nebius Group Stock Down 6.3%

The stock has a market capitalization of $11.11 billion, a PE ratio of -82.68 and a beta of 3.25. The firm’s fifty day moving average is $32.12 and its 200-day moving average is $31.51.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NBIS. Centaurus Financial Inc. purchased a new position in Nebius Group in the fourth quarter valued at about $9,505,000. GAMMA Investing LLC purchased a new position in Nebius Group in the first quarter valued at about $80,000. Whipplewood Advisors LLC purchased a new position in Nebius Group in the first quarter valued at about $36,000. Intellectus Partners LLC purchased a new position in Nebius Group in the first quarter valued at about $570,000. Finally, SeaCrest Wealth Management LLC purchased a new position in Nebius Group in the first quarter valued at about $453,000. 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.