CoreWeave (NASDAQ:CRWV) Trading Down 3.6% – What’s Next?

CoreWeave Inc. (NASDAQ:CRWV) dropped 3.6% during trading on Tuesday . The company traded as low as $80.37 and last traded at $81.85. 15,577,249 shares traded hands during trading, a decline of 45% from the average daily volume of 28,306,549 shares. The stock had previously closed at $84.89.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRWV. Sanford C. Bernstein boosted their price objective on shares of CoreWeave from $67.00 to $74.00 and gave the stock an “underperform” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of CoreWeave from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Piper Sandler reissued an “overweight” rating and issued a $153.00 price target (up from $151.00) on shares of CoreWeave in a research note on Wednesday, August 12th. Barclays upped their price target on shares of CoreWeave from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Finally, DA Davidson reiterated a “neutral” rating and issued a $100.00 price objective (down from $175.00) on shares of CoreWeave in a report on Monday, May 18th. Twenty-one equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, CoreWeave currently has an average rating of “Moderate Buy” and a consensus price target of $141.90.

CoreWeave Stock Performance

The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. The business has a fifty day moving average of $86.64 and a 200 day moving average of $94.71. The company has a market cap of $37.56 billion, a P/E ratio of -22.42 and a beta of 7.45.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.52) by $0.38. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business had revenue of $2.58 billion during the quarter. During the same quarter last year, the business earned ($0.27) earnings per share. The business’s quarterly revenue was up 112.5% on a year-over-year basis. On average, equities analysts predict that CoreWeave Inc. will post -5.19 EPS for the current year.

Insider Buying and Selling

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 307,131 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $108.75, for a total value of $33,400,496.25. Following the completion of the transaction, the insider owned 220,810 shares in the company, valued at approximately $24,013,087.50. This represents a 58.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael N. Intrator sold 278,560 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $97.43, for a total value of $27,140,100.80. Following the transaction, the chief executive officer directly owned 3,138,612 shares of the company’s stock, valued at $305,794,967.16. This represents a 8.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 7,277,865 shares of company stock valued at $682,576,524. 24.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Sivia Capital Partners LLC bought a new position in shares of CoreWeave during the second quarter valued at approximately $39,824,000. Quantbot Technologies LP purchased a new stake in shares of CoreWeave in the 2nd quarter worth approximately $311,000. Invesco Ltd. bought a new position in CoreWeave during the 2nd quarter valued at approximately $882,000. First Trust Advisors LP purchased a new position in CoreWeave during the second quarter valued at $20,260,000. Finally, Baird Financial Group Inc. purchased a new position in CoreWeave during the second quarter valued at $455,000.

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.