CoreWeave (NASDAQ:CRWV) Shares Down 2% – Here’s Why

CoreWeave Inc. (NASDAQ:CRWV)’s stock price dropped 2% on Monday . The stock traded as low as $73.40 and last traded at $74.92. Approximately 13,783,761 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 24,745,016 shares. The stock had previously closed at $76.42.

Analyst Ratings Changes

CRWV has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price objective on shares of CoreWeave in a research note on Wednesday, November 12th. JMP Securities upgraded CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 price target for the company in a research report on Tuesday, September 16th. Wells Fargo & Company reduced their price objective on CoreWeave from $170.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Melius Research set a $140.00 target price on CoreWeave in a report on Tuesday, November 11th. Finally, DA Davidson reaffirmed an “underperform” rating and issued a $36.00 target price on shares of CoreWeave in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CoreWeave has an average rating of “Hold” and a consensus price target of $127.70.

CoreWeave Stock Down 2.0%

The firm has a 50-day moving average of $92.68 and a two-hundred day moving average of $115.48. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $28.95 billion and a PE ratio of -51.67.

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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. The business’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same period last year, the company earned ($1.82) EPS.

Insider Activity

In other CoreWeave news, CEO Michael N. Intrator sold 32,455 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $65.47, for a total transaction of $2,124,828.85. Following the sale, the chief executive officer directly owned 5,893,690 shares in the company, valued at $385,859,884.30. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brannin Mcbee sold 102,835 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $85.30, for a total transaction of $8,771,825.50. Following the sale, the insider directly owned 185,181 shares in the company, valued at $15,795,939.30. This represents a 35.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 18,769,114 shares of company stock valued at $2,501,681,063.

Institutional Investors Weigh In On CoreWeave

A number of hedge funds have recently added to or reduced their stakes in the business. Munro Partners lifted its position in CoreWeave by 5,272.4% in the third quarter. Munro Partners now owns 616,485 shares of the company’s stock worth $84,366,000 after purchasing an additional 605,010 shares during the period. Apexium Financial LP acquired a new position in CoreWeave during the second quarter worth about $1,044,000. Chung Wu Investment Group LLC bought a new stake in CoreWeave in the second quarter worth about $755,000. Cisco Systems Inc. bought a new stake in CoreWeave in the second quarter worth about $173,493,000. Finally, Gamco Investors INC. ET AL acquired a new stake in CoreWeave in the 1st quarter valued at about $318,000.

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.