Nebius Group (NASDAQ:NBIS) Shares Gap Down – Time to Sell?

Nebius Group N.V. (NASDAQ:NBIS) gapped down prior to trading on Tuesday . The stock had previously closed at $108.73, but opened at $101.83. Nebius Group shares last traded at $101.6940, with a volume of 4,574,039 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NBIS shares. Northland Securities increased their price target on shares of Nebius Group from $206.00 to $211.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. CICC Research started coverage on Nebius Group in a report on Tuesday, November 11th. They set an “outperform” rating and a $143.00 price objective on the stock. DA Davidson reissued a “buy” rating and issued a $150.00 target price on shares of Nebius Group in a research note on Wednesday, November 12th. Morgan Stanley began coverage on 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. Finally, Citizens Jmp began coverage on Nebius Group in a research note on Wednesday, November 19th. They set a “market outperform” rating and a $175.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.38.

Nebius Group Stock Down 8.4%

The stock has a market cap of $25.08 billion, a price-to-earnings ratio of -129.84 and a beta of 4.00. The stock’s fifty day moving average is $92.99 and its 200-day moving average is $88.20.

Hedge Funds Weigh In On Nebius Group

Several institutional investors and hedge funds have recently made changes to their positions in NBIS. Fred Alger Management LLC boosted its position in shares of Nebius Group by 33.4% during the third quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock worth $1,137,551,000 after buying an additional 2,536,832 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Nebius Group in the 3rd quarter valued at approximately $238,511,000. Orbis Allan Gray Ltd lifted its stake in Nebius Group by 12.4% in the 2nd quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock valued at $976,681,000 after acquiring an additional 1,949,708 shares in the last quarter. Clear Street Group Inc. acquired a new position in Nebius Group during the 3rd quarter worth approximately $202,168,000. Finally, Rovida Advisors Inc. bought a new position in shares of Nebius Group during the 2nd quarter worth approximately $96,223,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

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.