Nebius Group (NASDAQ:NBIS) Trading 3.1% Higher – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS)’s stock price traded up 3.1% on Wednesday . The stock traded as high as $24.47 and last traded at $23.39. 7,824,059 shares changed hands during trading, a decline of 27% from the average session volume of 10,711,047 shares. The stock had previously closed at $22.69.

Analysts Set New Price Targets

Several research firms recently issued reports on NBIS. DA Davidson assumed coverage on shares of Nebius Group in a research note on Tuesday, February 25th. They issued a “buy” rating and a $50.00 target price for the company. BWS Financial restated a “buy” rating and set a $60.00 target price on shares of Nebius Group in a research report on Tuesday, March 4th.

Nebius Group Trading Up 6.8 %

The company has a market capitalization of $5.71 billion, a PE ratio of -42.51 and a beta of 2.47. The business’s 50 day simple moving average is $32.64.

Institutional Trading of Nebius Group

A hedge fund recently bought a new stake in Nebius Group stock. Centaurus Financial Inc. acquired a new position in shares of Nebius Group N.V. (NASDAQ:NBIS) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 343,130 shares of the company’s stock, valued at approximately $9,505,000. Centaurus Financial Inc. owned approximately 0.15% of Nebius Group at the end of the most recent quarter. 21.90% of the stock is currently owned by institutional investors.

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.