Nebius Group (NASDAQ:NBIS) Trading 5.6% Higher – Time to Buy?

Nebius Group N.V. (NASDAQ:NBIS) traded up 5.6% during mid-day trading on Tuesday . The stock traded as high as $22.04 and last traded at $22.28. 4,847,496 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 10,639,603 shares. The stock had previously closed at $21.11.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NBIS. BWS Financial reiterated a “buy” rating and issued a $60.00 target price on shares of Nebius Group in a research report on Tuesday, March 4th. DA Davidson started coverage on shares of Nebius Group in a report on Tuesday, February 25th. They issued a “buy” rating and a $50.00 price objective for the company.

Nebius Group Stock Performance

The company has a market cap of $5.10 billion, a price-to-earnings ratio of -38.02 and a beta of 2.47. The company’s 50 day moving average price is $32.94.

Hedge Funds Weigh In On Nebius Group

A hedge fund recently bought a new stake in Nebius Group stock. Centaurus Financial Inc. acquired a new stake in shares of Nebius Group N.V. (NASDAQ:NBIS) during the 4th quarter, according to the company in its most recent 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 approximately 0.15% of Nebius Group at the end of the most recent reporting period. Institutional investors and hedge funds own 21.90% of the company’s stock.

Nebius Group Company Profile

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.