Nebius Group (NASDAQ:NBIS) Trading Down 8.3% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS) shares were down 8.3% on Tuesday . The company traded as low as $32.76 and last traded at $33.21. Approximately 7,724,720 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 13,348,467 shares. The stock had previously closed at $36.22.

Analysts Set New Price Targets

Several research firms recently commented on NBIS. DA Davidson started coverage on shares of Nebius Group in a report on Tuesday. They set a “buy” rating and a $50.00 target price on the stock. BWS Financial lifted their price objective on Nebius Group from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Friday.

Nebius Group Stock Performance

The company’s 50 day moving average is $34.42. The company has a market capitalization of $7.99 billion, a PE ratio of -59.26 and a beta of 2.57.

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.