Nebius Group (NASDAQ:NBIS) Stock Price Down 3% - Should You Sell?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shares dropped 3% during mid-day trading on Wednesday . The stock traded as low as $51.71 and last traded at $51.93. Approximately 3,723,570 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 11,292,749 shares. The stock had previously closed at $53.53.

Analyst Ratings Changes

NBIS has been the subject of several recent research reports. Northland Capmk upgraded Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. Arete initiated coverage on Nebius Group in a research note on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target for the company. The Goldman Sachs Group began coverage on Nebius Group in a research note on Monday. They issued a "buy" rating and a $68.00 price target for the company. Arete Research raised Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Wall Street Zen raised Nebius Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Nebius Group has a consensus rating of "Buy" and an average target price of $66.80.

Nebius Group Trading Down 2.3%

The firm has a market cap of $12.36 billion, a price-to-earnings ratio of -92.04 and a beta of 3.25. The company's 50-day moving average is $44.92 and its 200-day moving average is $34.98.

Nebius Group (NASDAQ:NBIS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported ($0.48) earnings per share for the quarter. The company had revenue of $55.30 million during the quarter. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The company's quarterly revenue was up 385 compared to the same quarter last year. Equities research analysts forecast that Nebius Group N.V. will post -1.1 EPS for the current year.

Institutional Trading of Nebius Group

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its position in shares of Nebius Group by 125.0% during the 2nd quarter. Signaturefd LLC now owns 450 shares of the company's stock worth $25,000 after buying an additional 250 shares during the last quarter. SJS Investment Consulting Inc. bought a new stake in shares of Nebius Group during the 2nd quarter worth $31,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Nebius Group during the 2nd quarter worth $40,000. ORG Partners LLC increased its holdings in Nebius Group by 369.1% in the 2nd quarter. ORG Partners LLC now owns 760 shares of the company's stock worth $39,000 after purchasing an additional 598 shares in the last quarter. Finally, Albion Financial Group UT acquired a new position in Nebius Group in the 2nd quarter worth about $55,000. 21.90% of the stock is currently owned by institutional investors.

About Nebius Group

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.