Nebius Group (NASDAQ:NBIS) Shares Down 0.4% - Here's What Happened

Nebius Group N.V. (NASDAQ:NBIS) experienced a decline of 0.4% in its stock price on Friday. The stock traded as low as $25.54, with a last recorded price of $26.08. In total, approximately 1,886,707 shares were traded, which marks an 82% decrease from the average daily trading volume of 10,304,761 shares. The previous closing price was $26.18.

New Price Targets by Analysts

Several equity analysts have provided insights regarding NBIS shares. For instance, BWS Financial maintained a "buy" rating and set a price target of $60.00 for Nebius Group. This report was published on Tuesday, March 4. Additionally, DA Davidson initiated coverage on Nebius Group on February 25, assigning a "buy" rating and establishing a price target of $50.00.

Nebius Group Market Activity

The company's market capitalization stands at $6.22 billion, with a P/E ratio of -46.59 and a beta of 2.47, indicating a high level of volatility. The 50-day simple moving average for the stock is $34.45, suggesting recent trading activity may be impacted by overall market conditions.

Institutional Investment Insights

Recently, Centaurus Financial Inc. purchased a new share in Nebius Group during the fourth quarter, according to its latest filing with the Securities and Exchange Commission. They acquired 343,130 shares, valued at around $9,505,000, giving them approximately 0.15% ownership of Nebius Group. Currently, institutional investors and hedge funds account for about 21.90% of the total stock ownership.

About Nebius Group

Nebius Group N.V. is a technology firm that specializes in creating intelligent products and services driven by machine learning and other advanced technologies. Their offerings include Nebius AI, a cloud platform designed for AI deployment, as well as Toloka AI, which provides generative AI solutions throughout the lifecycle of AI projects, including data annotation, model training, and quality assessment of large language models.

Further Reading Suggestions

• Five stocks we like better than Nebius Group
• Understanding the Dow Jones Industrial Average
• Impact of FedEx's Recent Performance on Its Stock Price
• Opportunities in 5G Investments
• Analyst Predictions on Rocket Lab's Future
• Importance of Ex-Dividend Dates for Investors
• Micron Stock Potential to Revisit All-Time Highs

Nebius, Stocks, Market