CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) dropped 3.2% on Thursday . The company traded as low as $120.00 and last traded at $122.03. Approximately 3,550,464 shares were traded during trading, a decline of 82% from the average daily volume of 19,429,750 shares. The stock had previously closed at $126.05.
Wall Street Analysts Forecast Growth
CRWV has been the subject of a number of analyst reports. Citigroup raised their target price on shares of CoreWeave from $43.00 to $94.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Arete initiated coverage on shares of CoreWeave in a research note on Thursday, June 5th. They set a "neutral" rating and a $130.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoreWeave in a research note on Tuesday, April 22nd. They set a "hold" rating and a $45.00 target price for the company. Wells Fargo & Company raised their target price on shares of CoreWeave from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley raised their target price on shares of CoreWeave from $46.00 to $58.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $85.25.
View Our Latest Stock Analysis on CRWV
CoreWeave Stock Performance
The firm's 50-day simple moving average is $140.23. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.44 and a current ratio of 0.44.
CoreWeave (NASDAQ:CRWV - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.67).
Hedge Funds Weigh In On CoreWeave
Several hedge funds have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. purchased a new stake in CoreWeave in the 2nd quarter valued at about $735,000. Total Clarity Wealth Management Inc. purchased a new stake in CoreWeave in the 2nd quarter valued at about $935,000. Stephens Consulting LLC purchased a new stake in CoreWeave in the 2nd quarter valued at about $248,000. Almanack Investment Partners LLC. purchased a new stake in shares of CoreWeave in the 2nd quarter worth approximately $356,000. Finally, CWM LLC lifted its position in shares of CoreWeave by 283.0% in the 2nd quarter. CWM LLC now owns 166,663 shares of the company's stock worth $27,176,000 after purchasing an additional 123,147 shares during the period.
CoreWeave Company Profile
(
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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.
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