Nebius Group (NASDAQ:NBIS) Trading Up 4.7% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS)’s share price was up 4.7% during mid-day trading on Friday . The stock traded as high as $110.50 and last traded at $108.73. Approximately 15,609,150 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 12,402,855 shares. The stock had previously closed at $103.89.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NBIS shares. Weiss Ratings downgraded shares of Nebius Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Northland Securities lifted their target price on shares of Nebius Group from $206.00 to $211.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Wall Street Zen downgraded shares of Nebius Group from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Citizens Jmp began coverage on Nebius Group in a report on Wednesday, November 19th. They set a “market outperform” rating and a $175.00 price target on the stock. Finally, CICC Research began coverage on Nebius Group in a research report on Tuesday, November 11th. They issued an “outperform” rating and a $143.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.38.

Nebius Group Price Performance

The stock has a 50-day moving average price of $93.01 and a two-hundred day moving average price of $87.52. The stock has a market cap of $27.38 billion, a PE ratio of -141.21 and a beta of 4.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Orbis Allan Gray Ltd increased its position in Nebius Group by 12.4% in the second quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock worth $976,681,000 after purchasing an additional 1,949,708 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of Nebius Group by 33.4% in the 3rd quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock worth $1,137,551,000 after buying an additional 2,536,832 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in shares of Nebius Group by 55.7% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 4,607,497 shares of the company’s stock worth $517,284,000 after buying an additional 1,648,497 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Nebius Group by 2.7% in the 2nd quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock worth $198,514,000 after buying an additional 92,710 shares during the last quarter. Finally, Rovida Investment Management Ltd raised its position in shares of Nebius Group by 26.0% during the 3rd quarter. Rovida Investment Management Ltd now owns 2,193,647 shares of the company’s stock valued at $246,193,000 after buying an additional 453,000 shares in the last quarter. 21.90% of the stock is currently owned by institutional investors.

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.