Exchange Traded Concepts LLC Invests $2.62 Million in Nebius Group N.V. (NASDAQ:NBIS)

Exchange Traded Concepts LLC purchased a new position in Nebius Group N.V. (NASDAQ:NBIS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 124,144 shares of the company's stock, valued at approximately $2,621,000. Exchange Traded Concepts LLC owned approximately 0.05% of Nebius Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of NBIS. Centaurus Financial Inc. purchased a new position in Nebius Group in the fourth quarter worth about $9,505,000. GAMMA Investing LLC purchased a new position in shares of Nebius Group in the 1st quarter worth approximately $80,000. Whipplewood Advisors LLC purchased a new position in shares of Nebius Group in the 1st quarter worth approximately $36,000. Intellectus Partners LLC purchased a new position in shares of Nebius Group in the 1st quarter worth approximately $570,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Nebius Group in the 1st quarter worth approximately $453,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Nebius Group Trading Down 0.7%

NASDAQ:NBIS traded down $0.35 during trading hours on Friday, hitting $47.97. 12,650,272 shares of the stock were exchanged, compared to its average volume of 11,245,525. Nebius Group N.V. has a 52-week low of $14.09 and a 52-week high of $55.04. The firm's fifty day moving average price is $34.80 and its 200 day moving average price is $32.36. The company has a market cap of $11.31 billion, a P/E ratio of -84.16 and a beta of 3.25.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NBIS shares. DA Davidson boosted their price objective on Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Monday, June 16th. Arete Research raised shares of Nebius Group to a "strong-buy" rating in a research report on Thursday, June 5th. BWS Financial boosted their price objective on shares of Nebius Group from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Arete began coverage on Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target for the company. Finally, Northland Capmk upgraded Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $66.50.

Nebius Group 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.