Nebius Group (NASDAQ:NBIS) Sees Large Volume Increase - Still a Buy?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shares saw strong trading volume on Monday . 15,584,682 shares traded hands during mid-day trading, an increase of 42% from the previous session's volume of 10,993,294 shares.The stock last traded at $54.35 and had previously closed at $48.28.

Analyst Ratings Changes

NBIS has been the subject of a number of research analyst reports. Arete Research upgraded shares of Nebius Group to a "strong-buy" rating in a report on Thursday. Northland Securities set a $47.00 price target on shares of Nebius Group and gave the company an "outperform" rating in a research report on Wednesday, May 21st. BWS Financial reissued a "buy" rating and set a $60.00 price target on shares of Nebius Group in a research note on Wednesday, May 21st. Arete started coverage on Nebius Group in a report on Thursday. They set a "buy" rating and a $84.00 price objective for the company. Finally, DA Davidson set a $45.00 target price on Nebius Group and gave the company a "buy" rating in a report on Monday, May 19th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $59.00.

Nebius Group Trading Up 10.1%

The company has a market cap of $12.53 billion, a price-to-earnings ratio of -93.02 and a beta of 3.25. The stock's 50 day moving average price is $29.21 and its 200 day moving average price is $30.66.

Hedge Funds Weigh In On Nebius Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Orbis Allan Gray Ltd acquired a new position in shares of Nebius Group in the first quarter worth about $331,474,000. Accel Leaders 4 Associates L.P. acquired a new stake in Nebius Group in the first quarter valued at $96,704,000. Invesco Ltd. bought a new position in Nebius Group during the 1st quarter valued at $73,782,000. Fred Alger Management LLC acquired a new position in Nebius Group during the 1st quarter worth $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Nebius Group in the 1st quarter worth about $46,822,000. 21.90% of the stock is owned by institutional investors and hedge funds.

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.

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