CoreWeave (NASDAQ:CRWV) Shares Gap Down – Should You Sell?

CoreWeave Inc. (NASDAQ:CRWV)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $84.83, but opened at $82.28. CoreWeave shares last traded at $82.94, with a volume of 1,945,284 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $174.00 price target on shares of CoreWeave in a research report on Wednesday, November 5th. Citigroup reiterated a “buy” rating and issued a $135.00 target price (down from $192.00) on shares of CoreWeave in a report on Friday. HC Wainwright reiterated a “buy” rating and issued a $180.00 target price on shares of CoreWeave in a research report on Wednesday, November 12th. Barclays dropped their price target on shares of CoreWeave from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Finally, DA Davidson reiterated an “underperform” rating and set a $36.00 price target on shares of CoreWeave in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $127.70.

CoreWeave Price Performance

The stock has a 50 day moving average of $97.43 and a two-hundred day moving average of $117.54. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $31.78 billion and a P/E ratio of -56.72.

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

Insider Buying and Selling

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,149,406 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $139.37, for a total transaction of $160,192,714.22. Following the completion of the transaction, the insider owned 341,592 shares of the company’s stock, valued at $47,607,677.04. The trade was a 77.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 19,984,373 shares of company stock valued at $2,675,417,070.

Hedge Funds Weigh In On CoreWeave

A number of institutional investors have recently made changes to their positions in CRWV. Costello Asset Management INC boosted its stake in CoreWeave by 33.3% during 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 lifted 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 during the last quarter. Family Legacy Financial Solutions LLC boosted its position in shares of CoreWeave by 166.7% in the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after acquiring an additional 125 shares during the period. CoreCap Advisors LLC boosted its position in shares of CoreWeave by 29.6% in the third quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock valued at $88,000 after acquiring an additional 147 shares during the period. Finally, Pittenger & Anderson Inc. grew its stake in shares of CoreWeave by 36.0% in the third 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

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.