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

Nebius Group N.V. (NASDAQ:NBIS) 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 traded hands 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 also recently issued reports on NBIS. BWS Financial reaffirmed a “buy” rating and set a $60.00 price target on shares of Nebius Group in a research note on Tuesday, March 4th. Northland Capmk upgraded shares of Nebius Group to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Northland Securities assumed coverage on shares of Nebius Group in a research report on Tuesday, May 6th. They set an “outperform” rating and a $34.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NBIS. IFP Advisors Inc bought a new position in shares of Nebius Group in the first quarter worth about $25,000. First Horizon Advisors Inc. bought a new position in Nebius Group during the 1st quarter worth about $33,000. Banque Cantonale Vaudoise bought a new position in Nebius Group during the 1st quarter worth about $33,000. Manchester Capital Management LLC bought a new position in Nebius Group during the 1st quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new position in Nebius Group during the 1st quarter worth about $36,000. 21.90% of the stock is currently owned by institutional investors.

Nebius Group Stock Performance

The company’s fifty day simple moving average is $25.36 and its 200-day simple moving average is $28.71. The company has a market capitalization of $9.70 billion, a P/E ratio of -71.71 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.