Nebius Group (NASDAQ:NBIS) Trading Down 3.7% - Should You Sell?

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) traded down 3.7% on Monday . The company traded as low as $34.72 and last traded at $35.38. 8,995,592 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 10,498,660 shares. The stock had previously closed at $36.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Northland Capmk upgraded Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. BWS Financial restated a "buy" rating and issued a $60.00 price objective on shares of Nebius Group in a research note on Wednesday, May 21st. DA Davidson set a $45.00 target price on shares of Nebius Group and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Northland Securities set a $47.00 target price on shares of Nebius Group and gave the stock an "outperform" rating in a report on Wednesday, May 21st.

Nebius Group Trading Up 5.7%

The stock has a market cap of $9.29 billion, a price-to-earnings ratio of -69.11 and a beta of 3.11. The stock has a fifty day simple moving average of $28.19 and a 200-day simple moving average of $30.15.

Institutional Investors Weigh In On Nebius Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd bought a new stake in Nebius Group in the 1st quarter valued at $331,474,000. Accel Leaders 4 Associates L.P. bought a new position in shares of Nebius Group during the 1st quarter worth about $96,704,000. Invesco Ltd. acquired a new position in shares of Nebius Group during the first quarter valued at about $73,782,000. Fred Alger Management LLC bought a new stake in shares of Nebius Group in the first quarter valued at about $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in Nebius Group during the first quarter worth 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.