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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NBIS shares. Seaport Res Ptn upgraded Nebius Group to a “hold” rating in a report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Nebius Group in a report on Tuesday, October 14th. Wall Street Zen upgraded Nebius Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 30th. DA Davidson restated a “buy” rating and set a $75.00 price target on shares of Nebius Group in a report on Tuesday, September 9th. Finally, BWS Financial increased their price target on Nebius Group from $90.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $91.20.

Nebius Group Trading Down 6.5%

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 business has a 50-day moving average price of $105.40 and a two-hundred day moving average price of $67.38.

Nebius Group (NASDAQ:NBIS) last issued 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 for the quarter, compared to analyst estimates of $95.60 million. Equities analysts predict that Nebius Group N.V. will post -1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Nebius Group

A number of institutional investors have recently modified their holdings of the company. Western Pacific Wealth Management LP purchased a new stake in Nebius Group in the 3rd quarter valued at $45,000. Grove Bank & Trust purchased a new stake in Nebius Group in the 3rd quarter valued at $50,000. Signaturefd LLC raised its position in Nebius Group by 125.0% in the 2nd quarter. Signaturefd LLC now owns 450 shares of the company’s stock valued at $25,000 after buying an additional 250 shares during the last quarter. SOA Wealth Advisors LLC. raised its position in Nebius Group by 38.5% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 450 shares of the company’s stock valued at $51,000 after buying an additional 125 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in Nebius Group in the 3rd quarter valued at $56,000. 21.90% of the stock is owned by institutional investors and hedge funds.

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.