Nebius Group (NASDAQ:NBIS) Shares Up 4.6% - Here's Why

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) rose 4.6% during mid-day trading on Monday . The company traded as high as $55.75 and last traded at $54.21. Approximately 5,327,475 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 12,921,051 shares. The stock had previously closed at $51.84.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Arete started coverage on shares of Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price objective for the company. Northland Capmk raised Nebius Group to a "strong-buy" rating in a research report on Tuesday, May 6th. Wall Street Zen raised Nebius Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Northland Securities set a $47.00 price objective on Nebius Group and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Finally, BWS Financial boosted their target price on shares of Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One investment 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 stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $66.50.

Nebius Group Stock Up 6.7%

The business has a fifty day simple moving average of $38.39 and a two-hundred day simple moving average of $33.13. The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of -97.07 and a beta of 3.25.

Institutional Trading of Nebius Group

Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc bought a new position in Nebius Group in the 1st quarter valued at $25,000. Banque Cantonale Vaudoise bought a new stake in shares of Nebius Group during the first quarter worth $33,000. First Horizon Advisors Inc. bought a new position in Nebius Group in the first quarter valued at about $33,000. Manchester Capital Management LLC bought a new stake in Nebius Group during the 1st quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Nebius Group in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 21.90% of the company's stock.

Nebius Group Company 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.