Nebius Group (NASDAQ:NBIS) Stock Price Down 1.6% - What's Next?

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

Analyst Ratings Changes

NBIS has been the subject of several recent research reports. DA Davidson set a $45.00 target price on shares of Nebius Group and gave the company a "buy" rating in a research report on Monday, May 19th. Northland Capmk raised Nebius Group to a "strong-buy" rating in a research report on Tuesday, May 6th. Arete Research raised Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Arete began coverage on shares of Nebius Group in a research note on Thursday, June 5th. They set a "buy" rating and a $84.00 price objective on the stock. Finally, BWS Financial boosted their target price on shares of Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $64.00.

Nebius Group Stock Down 4.8%

The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of -84.09 and a beta of 3.25. The company has a 50 day simple moving average of $31.58 and a 200-day simple moving average of $31.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NBIS. IFP Advisors Inc bought a new position in shares of Nebius Group during the 1st quarter worth about $25,000. Banque Cantonale Vaudoise bought a new position in Nebius Group in the first quarter worth approximately $33,000. First Horizon Advisors Inc. bought a new position in Nebius Group in the first quarter worth approximately $33,000. Manchester Capital Management LLC acquired a new stake in Nebius Group in the first quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new stake in Nebius Group in the 1st quarter valued at $36,000. 21.90% of the stock is owned by 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.