Nebius Group (NASDAQ:NBIS) Trading Down 1.6% - Time to Sell?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s share price traded down 1.6% on Friday . The stock traded as low as $47.01 and last traded at $47.56. 5,653,226 shares were traded during mid-day trading, a decline of 50% from the average session volume of 11,206,880 shares. The stock had previously closed at $48.32.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Arete assumed coverage on shares of Nebius Group in a research note on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target for the company. DA Davidson upped their price objective on shares of Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday. Northland Capmk raised shares of Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. BWS Financial upped their price objective on shares of Nebius Group from $60.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Northland Securities set a $47.00 price objective on shares of Nebius Group and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $66.50.

Nebius Group Price Performance

The company has a market capitalization of $11.39 billion, a P/E ratio of -84.85 and a beta of 3.25. The stock's 50 day moving average is $34.27 and its 200-day moving average is $32.23.

Hedge Funds Weigh In On Nebius Group

A number of institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc bought a new position in Nebius Group in the first quarter worth about $25,000. Banque Cantonale Vaudoise bought a new position in Nebius Group in the first quarter worth about $33,000. First Horizon Advisors Inc. bought a new position in Nebius Group in the first quarter worth about $33,000. Manchester Capital Management LLC bought a new position in Nebius Group in the first quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new position in Nebius Group in the first quarter worth about $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.

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