Nebius Group (NASDAQ:NBIS) Shares Up 21.2% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS) shares shot up 21.2% during mid-day trading on Thursday . The company traded as high as $46.89 and last traded at $47.73. 23,568,931 shares traded hands during mid-day trading, an increase of 121% from the average session volume of 10,687,883 shares. The stock had previously closed at $39.39.

Analyst Upgrades and Downgrades

NBIS has been the topic of a number of recent analyst reports. DA Davidson set a $45.00 target price on Nebius Group and gave the stock a “buy” rating in a research note on Monday, May 19th. Arete Research upgraded Nebius Group to a “strong-buy” rating in a research note on Thursday. BWS Financial reissued a “buy” rating and issued a $60.00 price target on shares of Nebius Group in a report on Wednesday, May 21st. Arete began coverage on Nebius Group in a report on Thursday. They set a “buy” rating and a $84.00 target price for the company. Finally, Northland Capmk raised Nebius Group to a “strong-buy” rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $59.00.

Nebius Group Stock Performance

The business has a 50-day simple moving average of $29.21 and a two-hundred day simple moving average of $30.53. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of -84.70 and a beta of 3.25.

Institutional Investors Weigh In On Nebius Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc acquired a new position in shares of Nebius Group during the first quarter worth about $25,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group during the first quarter valued at approximately $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Nebius Group during the first quarter valued at $33,000. Manchester Capital Management LLC acquired a new position in shares of Nebius Group during the first quarter valued at $34,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Nebius Group during the first quarter valued at $36,000. Hedge funds and other institutional investors 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.