Nebius Group (NASDAQ:NBIS) Stock Price Up 7.8% – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS) shares shot up 7.8% on Monday . The stock traded as high as $28.84 and last traded at $29.08. 3,866,504 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 10,294,346 shares. The stock had previously closed at $26.98.

Wall Street Analysts Forecast Growth

NBIS has been the subject of several research analyst reports. DA Davidson initiated coverage on shares of Nebius Group in a report on Tuesday, February 25th. They issued a “buy” rating and a $50.00 price target for the company. BWS Financial restated a “buy” rating and set a $60.00 target price on shares of Nebius Group in a report on Tuesday, March 4th.

Nebius Group Price Performance

The business’s 50 day simple moving average is $34.00. The firm has a market cap of $6.40 billion, a PE ratio of -47.67 and a beta of 2.47.

Institutional Inflows and Outflows

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) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 343,130 shares of the company’s stock, valued at approximately $9,505,000. Centaurus Financial Inc. owned about 0.15% of Nebius Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.90% of the company’s stock.

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.