Nebius Group (NASDAQ:NBIS) Stock Price Down 3.2% – Time to Sell?

Shares of Nebius Group N.V. (NASDAQ:NBIS) fell 3.2% on Monday . The company traded as low as $91.36 and last traded at $91.46. 14,553,921 shares traded hands during trading, an increase of 14% from the average session volume of 12,722,802 shares. The stock had previously closed at $94.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NBIS. CICC Research assumed coverage on Nebius Group in a research report on Tuesday, November 11th. They set an “outperform” rating and a $143.00 target price on the stock. DA Davidson reaffirmed a “buy” rating and set a $150.00 price target on shares of Nebius Group in a research report on Wednesday, November 12th. Weiss Ratings lowered shares of Nebius Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, January 15th. Wall Street Zen lowered shares of Nebius Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Morgan Stanley assumed coverage on shares of Nebius Group in a research report on Thursday, January 15th. They set an “equal weight” rating and a $126.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Nebius Group presently has an average rating of “Moderate Buy” and a consensus price target of $142.38.

Nebius Group Stock Performance

The firm’s 50-day simple moving average is $93.51 and its 200-day simple moving average is $89.91.

Hedge Funds Weigh In On Nebius Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada purchased a new position in Nebius Group in the 1st quarter worth approximately $1,628,000. Millennium Management LLC bought a new stake in Nebius Group during the 1st quarter valued at $11,563,000. NewEdge Advisors LLC purchased a new stake in Nebius Group during the 1st quarter valued at $40,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Nebius Group during the 1st quarter valued at $9,084,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Nebius Group in the 2nd quarter worth $479,000. 21.90% of the stock is currently 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.