Nebius Group (NASDAQ:NBIS) Trading Down 5.4% - Time to Sell?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shares dropped 5.4% during mid-day trading on Tuesday . The company traded as low as $49.34 and last traded at $49.76. Approximately 10,586,601 shares changed hands during trading, a decline of 5% from the average daily volume of 11,102,272 shares. The stock had previously closed at $52.58.

Analyst Upgrades and Downgrades

NBIS has been the subject of several recent research reports. Northland Securities set a $47.00 price objective on shares of Nebius Group and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Northland Capmk upgraded shares of Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. Arete assumed coverage on Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price objective for the company. Arete Research raised shares of Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Finally, DA Davidson set a $45.00 price objective on Nebius Group and gave the stock a "buy" rating in a research note on Monday, May 19th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $64.00.

Nebius Group Stock Down 6.3%

The company has a market cap of $11.11 billion, a P/E ratio of -82.68 and a beta of 3.25. The company has a 50 day moving average price of $31.58 and a 200-day moving average price of $31.33.

Institutional Investors Weigh In On Nebius Group

Several institutional investors have recently bought and sold shares of NBIS. Orbis Allan Gray Ltd acquired a new position in shares of Nebius Group during the first quarter valued at approximately $331,474,000. Accel Leaders 4 Associates L.P. acquired a new position in Nebius Group during the first quarter worth about $96,704,000. Invesco Ltd. bought a new stake in Nebius Group in the first quarter worth about $73,782,000. Fred Alger Management LLC acquired a new stake in Nebius Group in the 1st quarter valued at about $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in shares of Nebius Group during the 1st quarter valued at about $46,822,000. Institutional investors and hedge funds own 21.90% of the company's stock.

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.