Why is NBIS stock down?

NBIS is down 4.1% over five trading days, closing at $158.74 on Oct. 23, 2026. The first question is whether the problem is the company or the whole group it trades with.

To answer that, we compare NBIS with its closest peers. We check the calendar for earnings and Fed dates. We also go through Nebius Group N.V.'s latest SEC filings and insider trades.

The chart below tracks NBIS's daily closing price from April 29, 2026 to Oct. 23, 2026. Over that stretch it is up 12.4%, from $141.19 to $158.74. The high was $286.69 on June 18, 2026. The low was $138.23 on April 30, 2026. Each red circle marks a week when insiders sold shares on the open market (13 weeks; bigger circles mean more money). Each green diamond marks a week when they bought (2 weeks).

NBIS vs peers this week

The table below shows how NBIS stacks up against its peers this week. Over 5 days, APLD did best (+1.1%) and CRWV worst (-11.7%). NBIS ranks 3 of 6.

What could be behind the NBIS move

Earnings are due on Nov. 10, 2026 (in 16 days); stocks often move ahead of reports.

The company reported earnings 3 days ago (Oct. 22, 2026).

Company filings in the last weeks: 6-K on Oct. 22, 2026 (Debt financing (not convertible)).

Across the broader market, the backdrop is a calm uptrend, with the VIX volatility index at 19.03. The Federal Reserve's next rate decision is on Oct. 28, 2026, 3 days away. Market pricing puts the odds at 93% for a hold, 6% for a hike and 1% for a cut.

Also worth knowing about NBIS

Live NBIS data, updated every 30 minutes: NBIS insider trades, ownership and filings →

What would change the picture for NBIS

These are the specific events and levels to watch. None of them is a prediction.

• The Nov. 10, 2026 earnings report is 16 days away. Nebius Group N.V. beat estimates in all 4 of the last 4 quarters (average surprise +51.5%); a miss would break that pattern.
• Insider buying: 1 insider bought $125,188 in 90 days. More purchases would strengthen that signal; sales by the same people would weaken it.
• Analyst ratings: the average score moved from 3.95 to 4.0 over three months. The scale runs from 5 for strong buy to 1 for strong sell. A run of downgrades after earnings usually shows up here first.
• Price levels: a close above $286.69 would be a new 52-week high. That is 80.6% above the latest close of $158.74. A close below $73.87 would be a new 52-week low. That is 53.5% below it.
• Growth: revenue rose 461.3% year over year in the quarter ending Jun 2026 (trend: accelerating). At a P/E of 481.0, a slowdown would matter more than at a lower multiple.
• New shares: dilution risk is moderate now. A new shelf registration (S-3) or a prospectus supplement (424B) for an offering would raise it.

How NBIS compares with its peers

Over the past month NBIS ranks 3 of 6 in this group (-34.8%); the best was WULF (-30.5%) and the weakest CIFR (-56.1%).

A dash in the P/E column means the company lost money over the last 12 months, so it has no P/E.

NBIS history: what happened after similar moves

Since 2023, NBIS fell 34.8% or more in a month 2 times (separate episodes, not counting the current one). Three months later it was higher in 1 of 2 cases; the median change was +41.3%.

Past moves don't predict the next one; they show how volatile the stock has been.

Questions people also ask

What is NBIS's 52-week high and low?

Over the past year NBIS closed as high as $286.69 and as low as $73.87. At $158.74 (Oct. 23, 2026) it is down 44.6% from the high and 114.9% above the low.

Do analysts think NBIS is a buy?

18 of the 25 analysts who cover Nebius Group N.V. rate it a buy or strong buy, for a consensus of Buy. Ratings describe analysts' views, not a guarantee, and they change after earnings.

Is Nebius Group N.V. issuing new shares?

Dilution risk reads moderate (45/100). That is based on 4 offering-related filing(s) in 12 months.

Does NBIS pay a dividend?

Nebius Group N.V. reported no dividend payments over the last 12 months in its SEC filings.

Who is the largest shareholder of NBIS?

Among investment managers that file Form 13F, BlackRock Inc. reported the largest NBIS position ($3.2 billion). 1060 institutions reported holding NBIS for Q2 2026.

Is Nebius Group N.V. profitable?

Yes. Nebius Group N.V. had $1.4 billion of revenue over the last 12 months with a net margin of 4.5% and a P/E of 481.0.

Dates to watch for NBIS

Insider trades can come any day: they must be filed on Form 4 within two business days.

Key terms on this page

P/E ratio

Price divided by the last 12 months of earnings per share. A P/E of 20 means investors pay $20 for each $1 of yearly profit. It is only defined when the company is profitable.

Form 4

The SEC form a company's officers, directors and 10% owners must file within two business days of buying or selling its stock.

Open-market trade

A purchase or sale on the exchange at the market price, paid with the insider's own money (code P or S on Form 4), as opposed to option exercises, grants or gifts.

Form 13F

A quarterly SEC report listing the U.S. stock holdings of every investment manager with more than $100 million. It is due 45 days after each quarter ends, so it shows positions with a delay.

Dilution

When a company issues new shares, each existing share owns a smaller piece of the company. Common sources: stock offerings, convertible debt and large stock-based pay.

52-week high / low

The highest and lowest daily closing price over the past year (about 252 trading days).

Analyst consensus

The average of Wall Street analysts' ratings (strong buy to strong sell). Analysts skew positive, so a hold is often read as a cautious view.

Where these numbers come from

Every number on this page is computed from the data when the page is refreshed (usually daily); nothing is typed in by hand. This is information, not investment advice.

• Price: daily closing prices through Oct. 23, 2026; changes use 5, 21 and 63 trading days; the 52-week range uses the last 252 closes.
• Insider trades: SEC Form 4 filings for the last 90 days, counting only open-market purchases (code P) and sales (code S); option exercises, grants, gifts and filings with data errors are left out.
• Analyst ratings: counts of current ratings from 25 analysts, compared with three months ago.
• Earnings dates and estimates: a market-data calendar; reported vs expected EPS for the last 4 quarters.
• Valuation and growth: revenue, earnings, margins and share counts come from the company's SEC filings (XBRL data, latest quarter Jun 2026). P/E and price/sales use the latest close.
• Fund ownership: SEC Form 13F filings for Q2 2026.
• Dilution: share-count changes and offering-related SEC filings (shelf registrations, prospectus supplements, convertible notes) over two years, scored 0-100.
• History: 21-trading-day moves over about three years of daily closes, counted once per episode.