Nebius Group (NASDAQ:NBIS) Trading Down 3.3% - Should You Sell?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shares were down 3.3% during trading on Tuesday . The company traded as low as $48.15 and last traded at $48.82. Approximately 3,668,360 shares changed hands during trading, a decline of 67% from the average daily volume of 11,192,562 shares. The stock had previously closed at $50.46.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BWS Financial lifted their price target on Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Arete Research upgraded Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. Northland Capmk raised shares of Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. Arete initiated coverage on shares of Nebius Group in a research report on Thursday, June 5th. They set a "buy" rating and a $84.00 price target for the company. Finally, 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. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Nebius Group currently has an average rating of "Buy" and an average price target of $66.50.

Nebius Group Stock Down 4.2%

The stock has a 50-day simple moving average of $33.22 and a 200-day simple moving average of $31.96. The firm has a market capitalization of $11.39 billion, a PE ratio of -84.79 and a beta of 3.25.

Institutional Investors Weigh In On Nebius Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in Nebius Group in the 1st quarter worth approximately $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Nebius Group during the first quarter worth $33,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group in the first quarter worth $33,000. Manchester Capital Management LLC bought a new position in shares of Nebius Group in the first quarter worth $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Nebius Group in the first quarter valued at $36,000. 21.90% of the stock is currently 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.