Nebius Group N.V. (NASDAQ:NBIS) stock edged lower Tuesday, even as major U.S. indexes advanced. The Nasdaq gained 0.96%, while the S&P 500 rose 0.37%.
Nebius’ modest decline appears to reflect consolidation after a strong rally. The stock has surged 210.93% over the past 12 months.
However, shares lagged the broader technology sector Tuesday. Traders are now watching whether the stock can reclaim its 50-day moving average and resume its longer-term climb.
Raises $5.75 Billion Through Convertible Notes Offering
Separately, Nebius said Monday it closed a $5.75 billion private offering of convertible senior notes.
The offering includes $3.45 billion of 0.50% notes due in 2030 and $2.3 billion of 4.50% notes due in 2034.
Nebius will use the proceeds to expand its data centers and AI cloud platform. It also plans to buy key components, including graphics processing units.
The company also exchanged $800 million of existing notes for about 15.8 million Class A shares.
Technical Analysis
Nebius traded 0.2% above its 20-day simple moving average of $217.03. However, it remained 2.3% below its 50-day SMA of $222.58. That pattern points to a narrow near-term trading range.
The longer-term trend remains bullish. Shares traded 6.8% above the 100-day SMA of $203.60 and 44.7% above the 200-day SMA of $150.25.
The relative strength index stood at 49.63, signaling neutral momentum. In addition, the 20-day SMA remains below the 50-day SMA, which adds a mildly bearish short-term signal. Still, the 50-day average remains above the 200-day average.
Resistance sits near $230. Meanwhile, support lies around $200.50, close to the 100-day SMA and the psychological $200 level.
Analyst Outlook
The stock carries a Buy consensus rating and an average price forecast of $248.83.
Citigroup raised its forecast to $324 on Aug. 14 while maintaining a Buy rating. DA Davidson raised its forecast to $250 on Aug. 18 and kept a Neutral rating.
Benzinga Edge Rankings
Nebius has a Momentum score of 97.97, reflecting strong relative performance. However, its Value score stands at 4.44, suggesting that shares appear expensive based on traditional valuation measures.
The setup remains momentum-driven. Bulls will look for support near $200.50 and a move back above the 50-day SMA.
ETF Exposure
The Leverage Shares 2X Long NBIS Daily ETF (NASDAQ:NBIG) reported 111.60% exposure to Nebius. Because the fund uses leverage, its exposure can exceed 100%. Fund rebalancing may amplify daily trading in NBIS shares.
Price Action
Nebius shares traded 0.4% lower at $218.33 at the time of publication Tuesday, according to Benzinga Pro.
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