CoreWeave Inc.'s (NASDAQ:CRWV) Lock-Up Period Will Expire on August 14th

Key Points

• The lock-up period for CoreWeave Inc. (NASDAQ:CRWV) will expire on August 14th, allowing insiders and major shareholders to sell their shares.
• CoreWeave's IPO raised $1.5 billion with the issuance of 37.5 million shares at an initial price of $40.00.
• Analysts have mixed ratings on CoreWeave with a consensus price target of $90.20, while stock performance recently showed a trading increase to $139.78.

CoreWeave's (NASDAQ:CRWV - Get Free Report) lock-up period will expire on Thursday, August 14th. CoreWeave had issued 37,500,000 shares in its public offering on March 28th. The total size of the offering was $1,500,000,000 based on an initial share price of $40.00. After the end of the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

CRWV has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on CoreWeave from $60.00 to $105.00 and gave the company an "equal weight" rating in a report on Wednesday. Arete started coverage on CoreWeave in a report on Thursday, June 5th. They set a "neutral" rating and a $130.00 target price on the stock. Jefferies Financial Group started coverage on CoreWeave in a report on Tuesday, April 22nd. They set a "buy" rating and a $51.00 target price on the stock. Northland Securities raised their target price on CoreWeave from $85.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Macquarie raised their target price on CoreWeave from $65.00 to $115.00 and gave the stock a "neutral" rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CoreWeave has an average rating of "Hold" and an average price target of $99.80.

CoreWeave Price Performance

Shares of CoreWeave stock traded down $18.26 during mid-day trading on Thursday, reaching $99.50. 49,726,666 shares of the stock traded hands, compared to its average volume of 14,434,344. The company has a 50-day moving average price of $140.45. CoreWeave has a fifty-two week low of $33.51 and a fifty-two week high of $187.00. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The company had revenue of $1.21 million during the quarter. The business's revenue was up 206.7% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new position in CoreWeave during the second quarter worth about $33,000. Archer Investment Corp acquired a new position in CoreWeave during the second quarter worth about $34,000. Chilton Capital Management LLC acquired a new position in CoreWeave during the second quarter worth about $39,000. TD Waterhouse Canada Inc. acquired a new position in CoreWeave during the second quarter worth about $47,000. Finally, Montag A & Associates Inc. acquired a new position in CoreWeave during the second quarter worth about $49,000.

CoreWeave 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.