CoreWeave (NASDAQ:CRWV) Trading Down 2% – What’s Next?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price fell 2% during mid-day trading on Monday . The stock traded as low as $73.40 and last traded at $74.92. 13,783,761 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 24,745,016 shares. The stock had previously closed at $76.42.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRWV. Weiss Ratings reissued a “sell (d-)” rating on shares of CoreWeave in a research report on Monday, December 22nd. Melius raised shares of CoreWeave from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a report on Tuesday, September 23rd. Morgan Stanley boosted their target price on shares of CoreWeave from $91.00 to $99.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Citigroup reaffirmed a “buy” rating and set a $135.00 price target (down from $192.00) on shares of CoreWeave in a research report on Friday, December 19th. Finally, Raymond James Financial initiated coverage on CoreWeave in a research note on Monday, September 15th. They set an “outperform” rating and a $130.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.70.

CoreWeave Stock Down 2.0%

The company has a market cap of $28.95 billion and a price-to-earnings ratio of -51.67. The business has a fifty day moving average of $92.68 and a two-hundred day moving average of $115.48. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.14. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. The firm’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same period in the previous year, the business posted ($1.82) earnings per share.

Insiders Place Their Bets

In other news, major shareholder Magnetar Financial Llc sold 1,149,406 shares of CoreWeave stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $139.37, for a total value of $160,192,714.22. Following the sale, the insider owned 341,592 shares in the company, valued at $47,607,677.04. This trade represents a 77.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 18,769,114 shares of company stock worth $2,501,681,063 in the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Costello Asset Management INC raised its holdings in shares of CoreWeave by 33.3% during the second quarter. Costello Asset Management INC now owns 400 shares of the company’s stock valued at $65,000 after acquiring an additional 100 shares during the last quarter. Chilton Capital Management LLC increased its position in shares of CoreWeave by 50.2% during the third quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock worth $50,000 after purchasing an additional 121 shares in the last quarter. Family Legacy Financial Solutions LLC increased its position in shares of CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after purchasing an additional 125 shares in the last quarter. CoreCap Advisors LLC raised its stake in CoreWeave by 29.6% in the 3rd quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock valued at $88,000 after purchasing an additional 147 shares during the last quarter. Finally, Pittenger & Anderson Inc. lifted its holdings in CoreWeave by 36.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock valued at $93,000 after purchasing an additional 180 shares in the last quarter.

CoreWeave Company Profile

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.