Nebius Group (NASDAQ:NBIS) Shares Down 1.1% – Here’s Why

Shares of Nebius Group N.V. (NASDAQ:NBIS) were down 1.1% on Wednesday . The stock traded as low as $35.70 and last traded at $36.47. Approximately 4,965,493 shares were traded during trading, a decline of 28% from the average daily volume of 6,869,240 shares. The stock had previously closed at $36.89.

Analysts Set New Price Targets

Separately, BWS Financial started coverage on shares of Nebius Group in a report on Monday. They issued a “buy” rating and a $51.00 target price for the company.

Nebius Group Stock Down 4.1 %

The company has a market capitalization of $13.03 billion, a P/E ratio of -63.23 and a beta of 2.63. The company’s 50 day simple moving average is $27.57.

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.