CoreWeave (NASDAQ:CRWV) Trading Down 5.9% – Should You Sell?

CoreWeave Inc. (NASDAQ:CRWVGet Free Report)’s stock price was down 5.9% on Tuesday . The stock traded as low as $93.13 and last traded at $95.22. Approximately 26,323,815 shares were traded during trading, a decline of 7% from the average daily volume of 28,172,551 shares. The stock had previously closed at $101.23.

CoreWeave News Roundup

Here are the key news stories impacting CoreWeave this week:

Analyst Ratings Changes

A number of research firms recently weighed in on CRWV. Bank of America dropped their price target on shares of CoreWeave from $168.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Roth Capital began coverage on shares of CoreWeave in a report on Thursday, December 4th. They set a “buy” rating and a $110.00 target price for the company. Compass Point assumed coverage on CoreWeave in a research note on Thursday, November 13th. They issued a “buy” rating and a $150.00 price target on the stock. Truist Financial began coverage on CoreWeave in a research report on Tuesday, January 6th. They issued a “hold” rating and a $84.00 price target on the stock. Finally, Morgan Stanley upped their price objective on CoreWeave from $91.00 to $99.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $123.81.

Check Out Our Latest Report on CRWV

CoreWeave Stock Down 5.9%

The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. The firm’s fifty day moving average price is $79.63 and its 200-day moving average price is $106.44. The company has a market cap of $36.79 billion and a price-to-earnings ratio of -65.67.

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

Insider Activity

In related news, major shareholder Magnetar Financial Llc sold 804,514 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $138.48, for a total transaction of $111,409,098.72. Following the completion of the sale, the insider directly owned 302,294 shares of the company’s stock, valued at approximately $41,861,673.12. This represents a 72.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian M. Venturo sold 281,250 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $137.80, for a total transaction of $38,756,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,840,305 shares of company stock worth $880,306,956 in the last quarter.

Institutional Investors Weigh In On CoreWeave

Several institutional investors have recently added to or reduced their stakes in CRWV. Costello Asset Management INC raised its stake in shares of CoreWeave by 33.3% in the 2nd quarter. Costello Asset Management INC now owns 400 shares of the company’s stock valued at $65,000 after purchasing an additional 100 shares during the period. Chilton Capital Management LLC grew its holdings 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 buying an additional 121 shares in the last quarter. Family Legacy Financial Solutions LLC raised its position in CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. CoreCap Advisors LLC lifted 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 acquiring an additional 147 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its position in CoreWeave by 36.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock worth $93,000 after acquiring an additional 180 shares during the last quarter.

CoreWeave Company Profile

(Get Free Report)

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.

Further Reading

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