Nebius Group (NASDAQ:NBIS) Trading Down 3.9% – What’s Next?

Shares of Nebius Group N.V. (NASDAQ:NBIS) dropped 3.9% during mid-day trading on Friday . The stock traded as low as $86.74 and last traded at $87.59. Approximately 6,102,626 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 14,925,859 shares. The stock had previously closed at $91.13.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NBIS shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Nebius Group in a research note on Monday. Northland Securities increased their price target on Nebius Group from $206.00 to $211.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. BWS Financial reiterated a “buy” rating and issued a $130.00 price objective on shares of Nebius Group in a research note on Thursday, November 13th. CICC Research began coverage on shares of Nebius Group in a research note on Tuesday, November 11th. They set an “outperform” rating and a $143.00 target price on the stock. Finally, Seaport Res Ptn raised shares of Nebius Group to a “hold” rating in a research note on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $144.71.

Nebius Group Stock Down 3.9%

The company has a market capitalization of $22.06 billion, a P/E ratio of -113.75 and a beta of 3.83. The firm’s 50-day moving average price is $99.35 and its 200 day moving average price is $82.23.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NBIS. Orbis Allan Gray Ltd raised its position in 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 last quarter. Fred Alger Management LLC boosted its holdings in Nebius Group by 33.4% during the third quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock worth $1,137,551,000 after purchasing an additional 2,536,832 shares during the last quarter. Jericho Capital Asset Management L.P. grew its position in Nebius Group by 55.7% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 4,607,497 shares of the company’s stock worth $517,284,000 after purchasing an additional 1,648,497 shares in the last quarter. Invesco Ltd. increased its stake in Nebius Group by 2.7% in 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. Finally, Rovida Investment Management Ltd lifted 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 buying an additional 453,000 shares in the last quarter. Hedge funds and other institutional investors own 21.90% of the company’s stock.

About Nebius Group

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.