CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Gap Down - Here's Why

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $163.10, but opened at $156.00. CoreWeave, Inc. Class A Common Stock shares last traded at $148.25, with a volume of 15,502,797 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Bank of America raised their price target on CoreWeave, Inc. Class A Common Stock from $42.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. JMP Securities began coverage on CoreWeave, Inc. Class A Common Stock in a research note on Thursday, May 22nd. They set a "market perform" rating on the stock. Melius Research upgraded CoreWeave, Inc. Class A Common Stock to a "hold" rating in a research report on Tuesday, April 22nd. Arete Research raised CoreWeave, Inc. Class A Common Stock to a "hold" rating in a report on Thursday. Finally, Citizens Jmp upgraded CoreWeave, Inc. Class A Common Stock to a "hold" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $65.00.

CoreWeave, Inc. Class A Common Stock Stock Performance

The business's 50 day moving average price is $67.49.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insider Activity

In other CoreWeave, Inc. Class A Common Stock news, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $508,800.00. Following the completion of the transaction, the chief financial officer now owns 231,811 shares in the company, valued at $9,272,440. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kristen J. Mcveety sold 69,460 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $2,778,400.00. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CoreWeave, Inc. Class A Common Stock

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL acquired a new position in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,575 shares of the company's stock, valued at approximately $318,000.

CoreWeave, Inc. Class A Common Stock Company Profile

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.