Nebius Group (NASDAQ:NBIS) Stock Price Up 3.2% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS)’s share price was up 3.2% on Monday . The company traded as high as $95.44 and last traded at $92.83. Approximately 9,853,758 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 9,419,897 shares. The stock had previously closed at $89.95.

Wall Street Analysts Forecast Growth

NBIS has been the topic of a number of recent research reports. Wall Street Zen cut Nebius Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Northland Securities increased their price objective on Nebius Group from $206.00 to $211.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $120.00 price target on shares of Nebius Group in a report on Wednesday, September 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nebius Group in a research note on Monday, December 29th. Finally, BWS Financial reissued a “buy” rating and set a $130.00 price target on shares of Nebius Group in a research report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $144.71.

Nebius Group Stock Performance

The company has a market cap of $23.38 billion, a PE ratio of -120.56 and a beta of 4.00. The company’s 50 day moving average price is $96.70 and its 200-day moving average price is $84.21.

Hedge Funds Weigh In On Nebius Group

Several large investors have recently made changes to their positions in NBIS. Oppenheimer Asset Management Inc. raised its position in Nebius Group by 186.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 29,850 shares of the company’s stock valued at $1,652,000 after buying an additional 19,424 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Nebius Group by 2.7% during the second quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock valued at $198,514,000 after acquiring an additional 92,710 shares in the last quarter. Scientech Research LLC bought a new position in Nebius Group in the first quarter valued at about $869,000. MGO One Seven LLC purchased a new stake in shares of Nebius Group in the second quarter worth about $255,000. Finally, Salem Investment Counselors Inc. increased its stake in Nebius Group by 2,272.7% in the third quarter. Salem Investment Counselors Inc. now owns 26,930 shares of the company’s stock worth $3,023,000 after purchasing an additional 25,795 shares during the period. 21.90% of the stock is currently owned by hedge funds and other institutional investors.

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.