CoreWeave (NASDAQ:CRWV) Downgraded to Neutral Rating by Bank of America

CoreWeave (NASDAQ:CRWV - Get Free Report) was downgraded by equities research analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued to investors on Monday, June 16th, Marketbeat.com reports.

Other research analysts have also issued reports about the company. Macquarie upped their target price on CoreWeave from $56.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Arete Research raised shares of CoreWeave to a "hold" rating in a research note on Thursday, June 5th. Melius assumed coverage on CoreWeave in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $40.00 price objective for the company. Wells Fargo & Company upped their target price on shares of CoreWeave from $50.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday, May 15th. Finally, Melius Research upgraded shares of CoreWeave to a "hold" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CoreWeave has a consensus rating of "Hold" and a consensus target price of $65.00.

CoreWeave Trading Down 5.4%

Shares of CoreWeave stock traded down $9.90 on Monday, reaching $173.68. The stock had a trading volume of 26,497,789 shares, compared to its average volume of 22,044,910. CoreWeave has a fifty-two week low of $33.51 and a fifty-two week high of $187.00. The business has a 50-day moving average price of $94.51.

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

Insiders Place Their Bets

In other CoreWeave news, insider Kristen J. Mcveety sold 69,460 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $2,778,400.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction that occurred 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 directly owns 231,811 shares of the company's stock, valued at approximately $9,272,440. The trade was a 5.20% decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of CoreWeave

A hedge fund recently bought a new stake in CoreWeave stock. Gamco Investors INC. ET AL acquired a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,575 shares of the company's stock, valued at approximately $318,000.

About CoreWeave

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.