Nebius Group (NASDAQ:NBIS) Sees Large Volume Increase on Analyst Upgrade

Shares of Nebius Group N.V. (NASDAQ:NBIS) saw unusually-high 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. Approximately 12,491,567 shares traded hands during 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.

Other equities research analysts have also recently issued reports about the company. Northland Securities initiated coverage on Nebius Group in a research note on Tuesday, May 6th. They set an “outperform” rating and a $34.00 target price on the stock. 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. Finally, Northland Capmk upgraded Nebius Group to a “strong-buy” rating in a research note on Tuesday, May 6th.

Institutional Investors Weigh In On Nebius Group

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

Nebius Group Stock Up 4.2%

The company has a 50-day moving average price of $25.62 and a two-hundred day moving average price of $28.78. The stock 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.