CoreWeave (NASDAQ:CRWV) Trading Up 4.5% – Here’s What Happened

CoreWeave Inc. (NASDAQ:CRWV) traded up 4.5% during trading on Thursday . The company traded as high as $84.85 and last traded at $84.56. Approximately 18,225,379 shares traded hands during trading, a decline of 35% from the average session volume of 28,172,516 shares. The stock had previously closed at $80.93.

Wall Street Analyst Weigh In

CRWV has been the subject of a number of research analyst reports. Cantor Fitzgerald set a $176.00 price objective on shares of CoreWeave and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $150.00 target price on shares of CoreWeave in a research report on Friday, August 7th. Jefferies Financial Group lowered shares of CoreWeave from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. DA Davidson restated a “neutral” rating and issued a $100.00 target price (down from $175.00) on shares of CoreWeave in a research note on Monday, May 18th. Finally, Roth Capital set a $145.00 target price on shares of CoreWeave in a research note on Thursday, August 13th. Twenty-one investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.90.

CoreWeave Trading Up 4.5%

The firm’s 50 day moving average is $85.75 and its 200 day moving average is $94.51. The company has a market cap of $38.80 billion, a PE ratio of -23.17 and a beta of 7.45. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46.

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

Insider Activity

In other news, CEO Michael Intrator sold 278,560 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $97.43, for a total transaction of $27,140,100.80. Following the completion of the transaction, the chief executive officer owned 3,138,612 shares of the company’s stock, valued at approximately $305,794,967.16. The trade was a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, major shareholder Magnetar Financial Llc sold 307,131 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 220,810 shares of the company’s stock, valued at $24,013,087.50. The trade was a 58.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 7,146,467 shares of company stock valued at $667,792,935. 24.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On CoreWeave

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. bought a new stake in shares of CoreWeave during the 3rd quarter worth $34,000. Essential Partners LLC purchased a new stake in CoreWeave during the second quarter valued at about $30,000. Burnham & Co LLC purchased a new stake in CoreWeave during the second quarter valued at about $32,000. Cullen Frost Bankers Inc. lifted its stake in CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 121 shares during the last quarter. Finally, Greenline Wealth Management LLC bought a new stake in CoreWeave during the fourth quarter worth about $28,000.

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.