Nebius Group (NASDAQ:NBIS) Stock Price Down 5.6% - What's Next?

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) dropped 5.6% during trading on Monday . The stock traded as low as $23.82 and last traded at $23.98. Approximately 1,940,511 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 10,203,100 shares. The stock had previously closed at $25.40.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NBIS shares. Northland Capmk raised shares of Nebius Group to a "strong-buy" rating in a research note on Tuesday. Northland Securities assumed coverage on Nebius Group in a research note on Tuesday. They issued an "outperform" rating and a $34.00 price target on the stock. DA Davidson reduced their price objective on Nebius Group from $50.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, BWS Financial reiterated a "buy" rating and set a $60.00 price target on shares of Nebius Group in a research note on Tuesday, March 4th.

Nebius Group Stock Performance

The business has a 50 day moving average price of $24.38 and a two-hundred day moving average price of $27.85. The company has a market cap of $6.68 billion, a P/E ratio of -49.75 and a beta of 3.11.

Institutional Trading of Nebius Group

Several institutional investors have recently bought and sold shares of the company. IFP Advisors Inc bought a new stake in Nebius Group during the 1st quarter worth approximately $25,000. Banque Cantonale Vaudoise bought a new position in Nebius Group during the first quarter valued at $33,000. First Horizon Advisors Inc. purchased a new position in Nebius Group during the 1st quarter valued at $33,000. Whipplewood Advisors LLC purchased a new position in shares of Nebius Group during the first quarter worth approximately $36,000. Finally, Larson Financial Group LLC bought a new position in Nebius Group during the 1st quarter worth about $41,000. 21.90% of the stock is owned by hedge funds and other 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.