CoreWeave (NASDAQ:CRWV) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• CoreWeave Inc. (NASDAQ:CRWV) experienced a significant trading volume increase, with approximately 17.1 million shares traded, although this was an 11% decline from the prior day's volume.
• Analysts have revised their price targets for CoreWeave, with Wells Fargo raising its target from $60 to $105 and Arete Research setting a target of $130, reflecting a positive outlook despite the mixed ratings.
• The company's recent quarterly earnings showed a 206.7% increase in revenue year-over-year, although it missed EPS expectations, reporting ($0.27) compared to the expected ($0.20).

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 17,140,745 shares were traded during mid-day trading, a decline of 11% from the previous session's volume of 19,298,611 shares.The stock last traded at $99.98 and had previously closed at $99.51.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CRWV shares. Macquarie boosted their price target on shares of CoreWeave from $65.00 to $115.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Jefferies Financial Group began coverage on CoreWeave in a report on Tuesday, April 22nd. They issued a "buy" rating and a $51.00 target price for the company. Melius began coverage on CoreWeave in a research note on Tuesday, April 22nd. They set a "hold" rating and a $40.00 price target on the stock. Morgan Stanley lifted their price target on CoreWeave from $58.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Northland Capmk raised CoreWeave to a "strong-buy" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CoreWeave currently has a consensus rating of "Hold" and an average target price of $99.80.

CoreWeave Trading Down 3.2%

The stock has a fifty day simple moving average of $138.34. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79.

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

Insiders Place Their Bets

In other CoreWeave news, Director Jack D. Cogen sold 3,000,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $90.55, for a total value of $271,650,000.00. Following the sale, the director owned 654,200 shares of the company's stock, valued at $59,237,810. This represents a 82.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Gamco Investors INC. ET AL purchased a new stake in CoreWeave in the 1st quarter valued at approximately $318,000. Goldman Sachs Group Inc. acquired a new position in shares of CoreWeave in the first quarter worth $963,000. Howard Financial Services LTD. purchased a new stake in shares of CoreWeave in the second quarter valued at $489,000. McAlister Sweet & Associates Inc. acquired a new stake in shares of CoreWeave during the second quarter valued at $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in CoreWeave during the 2nd quarter worth about $117,000.

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.