CoreWeave (NASDAQ:CRWV) Trading Down 1.5% – Here’s Why

CoreWeave Inc. (NASDAQ:CRWV) was down 1.5% on Wednesday . The company traded as low as $99.60 and last traded at $104.27. Approximately 23,565,470 shares were traded during trading, a decline of 16% from the average daily volume of 28,003,643 shares. The stock had previously closed at $105.89.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CRWV shares. Macquarie Infrastructure reissued a “neutral” rating and set a $115.00 price objective on shares of CoreWeave in a report on Tuesday, January 27th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $180.00 price target on shares of CoreWeave in a research note on Friday, February 27th. Barclays lifted their price target on CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Sanford C. Bernstein lifted their price target on CoreWeave from $56.00 to $67.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $135.00 target price on shares of CoreWeave in a research note on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.63.

CoreWeave Stock Down 1.5%

The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $46.67 billion, a PE ratio of -33.53 and a beta of 7.84. The company has a 50 day moving average price of $101.23 and a 200-day moving average price of $90.49.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm had revenue of $1.57 billion for the quarter. The business’s revenue for the quarter was up 110.4% compared to the same quarter last year. As a group, analysts forecast that CoreWeave Inc. will post -4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CoreWeave news, insider Kristen J. Mcveety sold 3,833 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $99.82, for a total value of $382,610.06. Following the sale, the insider directly owned 123,961 shares of the company’s stock, valued at approximately $12,373,787.02. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brannin Mcbee sold 3,683 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $99.82, for a total value of $367,637.06. Following the transaction, the insider directly owned 318,086 shares in the company, valued at approximately $31,751,344.52. The trade was a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 25,134,617 shares of company stock valued at $2,816,351,278.

Institutional Trading of CoreWeave

A number of hedge funds have recently bought and sold shares of the company. CTC Alternative Strategies Ltd. purchased a new stake in CoreWeave during the first quarter valued at $852,000. Liontrust Investment Partners LLP increased its position in CoreWeave by 24.1% during the first quarter. Liontrust Investment Partners LLP now owns 127,752 shares of the company’s stock valued at $9,897,000 after acquiring an additional 24,843 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in CoreWeave by 79.0% during the first quarter. SOA Wealth Advisors LLC. now owns 886 shares of the company’s stock valued at $69,000 after acquiring an additional 391 shares during the last quarter. Pathway Wealth Management LLC increased its position in CoreWeave by 2.9% during the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company’s stock valued at $278,000 after acquiring an additional 100 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new stake in CoreWeave during the first quarter valued at $300,000.

About CoreWeave

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.