Nebius Group (NASDAQ:NBIS) Trading Down 6.5% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS) dropped 6.5% during mid-day trading on Thursday . The stock traded as low as $108.41 and last traded at $109.44. Approximately 16,842,061 shares were traded during trading, an increase of 18% from the average daily volume of 14,276,888 shares. The stock had previously closed at $117.00.

Analyst Ratings Changes

NBIS has been the topic of several research reports. Wall Street Zen upgraded shares of Nebius Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Seaport Res Ptn raised Nebius Group to a “hold” rating in a research note on Monday, September 15th. DA Davidson reissued a “buy” rating and set a $75.00 target price on shares of Nebius Group in a research note on Tuesday, September 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Nebius Group in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $120.00 price target on shares of Nebius Group in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $91.20.

Nebius Group Price Performance

The company has a current ratio of 14.70, a quick ratio of 14.70 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $105.40 and a 200-day simple moving average of $67.38.

Nebius Group (NASDAQ:NBIS) last posted its earnings results on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. Nebius Group had a return on equity of 6.14% and a net margin of 99.34%.The company had revenue of $105.10 million during the quarter, compared to the consensus estimate of $95.60 million. On average, sell-side analysts forecast that Nebius Group N.V. will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIS. Orbis Allan Gray Ltd grew its position in Nebius Group by 12.4% in the second quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock valued at $976,681,000 after acquiring an additional 1,949,708 shares during the last quarter. Accel Leaders 4 Associates L.P. bought a new stake in Nebius Group in the first quarter valued at approximately $96,704,000. Invesco Ltd. boosted its holdings in Nebius Group by 2.7% in the second quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock valued at $198,514,000 after acquiring an additional 92,710 shares during the last quarter. Fred Alger Management LLC bought a new stake in Nebius Group in the first quarter valued at approximately $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in Nebius Group in the first quarter valued at approximately $46,822,000. Institutional investors and hedge funds 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.