Nebius Group (NASDAQ:NBIS) Shares Up 2.4% - Here's What Happened

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s stock price rose 2.4% on Tuesday . The company traded as high as $39.88 and last traded at $39.51. Approximately 4,378,993 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 10,505,508 shares. The stock had previously closed at $38.59.

Wall Street Analysts Forecast Growth

NBIS has been the topic of a number of recent research reports. Northland Securities set a $47.00 target price on shares of Nebius Group and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Northland Capmk upgraded shares of Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. BWS Financial restated a "buy" rating and set a $60.00 target price on shares of Nebius Group in a research note on Wednesday, May 21st. Finally, DA Davidson set a $45.00 price objective on shares of Nebius Group and gave the stock a "buy" rating in a research note on Monday, May 19th.

Nebius Group Stock Performance

The company's fifty day moving average is $27.39 and its 200-day moving average is $29.74. The company has a market capitalization of $8.65 billion, a PE ratio of -64.35 and a beta of 3.11.

Institutional Investors Weigh In On Nebius Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc purchased a new stake in Nebius Group during the 1st quarter valued at approximately $25,000. First Horizon Advisors Inc. bought a new stake in Nebius Group in the first quarter worth $33,000. Banque Cantonale Vaudoise bought a new stake in shares of Nebius Group during the first quarter worth $33,000. Manchester Capital Management LLC bought a new stake in shares of Nebius Group during the first quarter worth $34,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Nebius Group during the first quarter worth $36,000. 21.90% of the stock is owned by hedge funds and other institutional investors.

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.