Nebius Group (NASDAQ:NBIS) Shares Down 5.1% - Time to Sell?

Shares of Nebius Group N.V. (NASDAQ:NBIS) experienced a decline of 5.1% during Friday's trading session. The stock dipped to a low of $23.83 before settling at $24.10. During midday distribution, about 4,049,135 shares changed hands, marking a significant drop of 61% from the average daily trading volume, which is typically around 10,429,127 shares. The previous closing price for the stock was $25.41.

Wall Street Analysts Forecast Growth

Numerous research firms have recently provided insights on Nebius Group. BWS Financial reiterated a "buy" rating and established a target price of $60.00 for the shares in a report dated March 4th. Additionally, DA Davidson initiated coverage on Nebius Group with a "buy" rating and set their price target at $50.00 in a research note on February 25th.

Nebius Group Stock Performance

The company currently boasts a 50-day moving average price of $33.51. With a market capitalization of approximately $5.28 billion, Nebius Group's price-to-earnings ratio stands at -39.26, and the stock has a beta of 2.47, indicating a high level of volatility compared to the market.

Institutional Trading of Nebius Group

In recent developments, Centaurus Financial Inc. acquired a new stake in Nebius Group during the fourth quarter, according to their latest filing with the Securities and Exchange Commission. The hedge fund purchased 343,130 shares, valued around $9,505,000, and owned approximately 0.15% of Nebius Group at the end of the reporting period. Currently, around 21.90% of the shares are owned by institutional investors and hedge funds.

About Nebius Group

Nebius Group N.V. is a technology firm focused on developing intelligent products and services driven by machine learning and other innovative technologies. The company provides various services including Nebius AI, an AI-centric cloud platform designed to deliver infrastructure and computational capabilities for AI applications, as well as Toloka AI, which offers generative AI (GenAI) solutions throughout the GenAI lifecycle, including data annotation, model training, and quality assessment for large language models.

Stocks, Investment, Market