Nebius Group (NASDAQ:NBIS) Shares Down 1.6% – Time to Sell?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price traded down 1.6% during trading on Friday . The company 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 Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Northland Capmk raised shares of Nebius Group to a “strong-buy” rating in a report on Tuesday, May 6th. Arete Research upgraded shares of Nebius Group to a “strong-buy” rating in a research report on Thursday, June 5th. BWS Financial raised their price objective on shares of Nebius Group from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Arete began coverage on shares of Nebius Group in a research note on Thursday, June 5th. They set a “buy” rating and a $84.00 price objective for the company. Finally, DA Davidson raised their target price on shares of Nebius Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $66.50.

Nebius Group Stock Performance

The stock’s fifty day simple moving average is $34.80 and its two-hundred day simple moving average is $32.36. The company has a market cap of $11.31 billion, a price-to-earnings ratio of -84.16 and a beta of 3.25.

Hedge Funds Weigh In On Nebius Group

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc purchased a new stake in Nebius Group during the 1st quarter worth $25,000. First Horizon Advisors Inc. bought a new stake in shares of Nebius Group in the 1st quarter worth about $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Nebius Group in the 1st quarter valued at about $33,000. Manchester Capital Management LLC acquired a new position in shares of Nebius Group in the 1st quarter valued at about $34,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Nebius Group in the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

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.