Nebius Group (NASDAQ:NBIS) Shares Up 7.8% – Time to Buy?

Shares of Nebius Group N.V. (NASDAQ:NBIS) shot up 7.8% during trading on Monday . The stock traded as high as $28.84 and last traded at $29.08. 3,866,504 shares changed 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.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. DA Davidson initiated coverage on shares of Nebius Group in a report on Tuesday, February 25th. They set a “buy” rating and a $50.00 price target on the stock. BWS Financial restated a “buy” rating and issued a $60.00 target price on shares of Nebius Group in a research note on Tuesday, March 4th.

Nebius Group Stock Up 8.2 %

The firm has a market capitalization of $6.87 billion, a PE ratio of -51.24 and a beta of 2.47. The company’s 50-day simple moving average is $34.32.

Institutional Trading of Nebius Group

A hedge fund recently bought a new stake in Nebius Group stock. Centaurus Financial Inc. purchased a new position in shares of Nebius Group N.V. (NASDAQ:NBIS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 343,130 shares of the company’s stock, valued at approximately $9,505,000. Centaurus Financial Inc. owned about 0.15% of Nebius Group as of its most recent SEC filing. 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.