Nebius Group (NASDAQ:NBIS) Shares Down 9.2% - Time to Sell?

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) fell 9.2% during trading on Tuesday . The stock traded as low as $50.70 and last traded at $50.23. 6,151,564 shares were traded during trading, a decline of 46% from the average session volume of 11,288,441 shares. The stock had previously closed at $55.33.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Arete initiated coverage on Nebius Group in a research report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price objective on the stock. Arete Research raised Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Wall Street Zen raised shares of Nebius Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. DA Davidson boosted their target price on shares of Nebius Group from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Northland Capmk upgraded Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $66.50.

Nebius Group Price Performance

The stock's fifty day moving average price is $40.02 and its 200 day moving average price is $33.48. The stock has a market capitalization of $11.81 billion, a P/E ratio of -87.89 and a beta of 3.25.

Hedge Funds Weigh In On Nebius Group

A number of institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd bought a new stake in shares of Nebius Group in the 1st quarter valued at about $331,474,000. Accel Leaders 4 Associates L.P. bought a new position in shares of Nebius Group in the 1st quarter worth $96,704,000. Invesco Ltd. purchased a new stake in shares of Nebius Group during the 1st quarter worth $73,782,000. Fred Alger Management LLC bought a new stake in Nebius Group during the first quarter valued at about $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in Nebius Group during the first quarter valued at about $46,822,000. 21.90% of the stock is owned by hedge funds and other 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.