Nebius Group (NASDAQ:NBIS) Stock Price Down 5.1% - Here's What Happened

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s stock price was down 5.1% on Friday . The company traded as low as $23.83 and last traded at $24.10. Approximately 4,049,135 shares changed hands during trading, a decline of 61% from the average daily volume of 10,429,127 shares. The stock had previously closed at $25.41.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NBIS shares. DA Davidson started coverage on shares of Nebius Group in a research note on Tuesday, February 25th. They issued a "buy" rating and a $50.00 target price for the company. BWS Financial reiterated a "buy" rating and issued a $60.00 price objective on shares of Nebius Group in a research note on Tuesday, March 4th.

Nebius Group Trading Down 5.4 %

The business has a fifty day moving average price of $33.23. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -37.04 and a beta of 2.47.

Institutional Investors Weigh In On Nebius Group

A hedge fund recently bought a new stake in Nebius Group stock. Centaurus Financial Inc. bought a new position in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 343,130 shares of the company's stock, valued at approximately $9,505,000. Centaurus Financial Inc. owned approximately 0.15% of Nebius Group at the end of the most recent reporting period. 21.90% of the stock is currently owned by institutional investors and hedge funds.

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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.