Nebius Group (NASDAQ:NBIS) Sees Strong Trading Volume on Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS) shares saw strong trading volume on Tuesday after DA Davidson raised their price target on the stock from $35.00 to $45.00. DA Davidson currently has a buy rating on the stock. 12,491,567 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 10,390,992 shares.The stock last traded at $40.97 and had previously closed at $37.56.

A number of other research firms have also weighed in on NBIS. Northland Securities initiated coverage on shares of Nebius Group in a research note on Tuesday, May 6th. They issued an “outperform” rating and a $34.00 price objective on the stock. Northland Capmk raised shares of Nebius Group to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, BWS Financial reissued a “buy” rating and set a $60.00 price objective on shares of Nebius Group in a report on Tuesday, March 4th.

Hedge Funds Weigh In On Nebius Group

Several large investors have recently bought and sold shares of the stock. IFP Advisors Inc bought a new position in Nebius Group during the 1st quarter valued at $25,000. Banque Cantonale Vaudoise bought a new position in Nebius Group during the 1st quarter valued at $33,000. First Horizon Advisors Inc. bought a new position in Nebius Group during the 1st quarter valued at $33,000. Manchester Capital Management LLC bought a new position in Nebius Group during the 1st quarter valued at $34,000. Finally, Whipplewood Advisors LLC bought a new position in Nebius Group during the 1st quarter valued at $36,000. 21.90% of the stock is currently owned by institutional investors.

Nebius Group Stock Performance

The firm has a 50 day simple moving average of $25.62 and a two-hundred day simple moving average of $28.78. The firm has a market capitalization of $9.23 billion, a P/E ratio of -68.67 and a beta of 3.11.

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.