Nebius Group (NASDAQ:NBIS) Shares Up 5.6% – Here’s Why

Shares of Nebius Group N.V. (NASDAQ:NBIS) shot up 5.6% during trading on Tuesday . The company traded as high as $22.04 and last traded at $22.28. 4,847,496 shares were traded during mid-day trading, a decline of 54% from the average session volume of 10,639,603 shares. The stock had previously closed at $21.11.

Wall Street Analyst Weigh In

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

Nebius Group Trading Up 2.6 %

The firm has a fifty day simple moving average of $32.94. The firm has a market capitalization of $5.10 billion, a P/E ratio of -38.02 and a beta of 2.47.

Institutional Trading of Nebius Group

An institutional investor recently bought a new position in Nebius Group stock. Centaurus Financial Inc. purchased a new position in shares of Nebius Group N.V. (NASDAQ:NBIS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 owned by hedge funds and other 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.