Nebius Group (NASDAQ:NBIS) Stock Price Down 4.5% After Analyst Downgrade

Nebius Group N.V. (NASDAQ:NBIS) shares were down 4.5% on Monday after DA Davidson lowered their price target on the stock from $50.00 to $30.00. DA Davidson currently has a buy rating on the stock. Nebius Group traded as low as $20.54 and last traded at $20.54. Approximately 3,238,826 shares were traded during trading, a decline of 70% from the average daily volume of 10,786,881 shares. The stock had previously closed at $21.51.

Separately, BWS Financial reaffirmed a “buy” rating and set a $60.00 price objective on shares of Nebius Group in a research report on Tuesday, March 4th.

Hedge Funds Weigh In On Nebius Group

Large investors have recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Nebius Group during the first quarter worth about $36,000. GAMMA Investing LLC acquired a new position in Nebius Group during the 1st quarter worth approximately $80,000. Farther Finance Advisors LLC purchased a new position in shares of Nebius Group during the 1st quarter worth approximately $152,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Nebius Group in the 1st quarter valued at approximately $453,000. Finally, Intellectus Partners LLC purchased a new stake in shares of Nebius Group in the first quarter valued at approximately $570,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

Nebius Group Price Performance

The stock has a 50 day moving average of $29.96 and a two-hundred day moving average of $27.45. The stock has a market capitalization of $4.88 billion, a PE ratio of -36.37 and a beta of 2.54.

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.