CoreWeave (NASDAQ:CRWV) Shares Gap Down - What's Next?

Key Points

• CoreWeave shares gapped down from $114.13 to $104.90 before opening, reflecting increased volatility in the stock market.
• Analyst ratings for CRWV are mixed, with three sell ratings, eighteen holds, five buys, and one strong buy, indicating uncertainty among analysts about the stock's future performance.
• The company reported a quarterly loss with earnings per share of ($0.83), significantly missing the consensus estimate of ($0.16).

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $114.13, but opened at $104.90. CoreWeave shares last traded at $104.80, with a volume of 3,443,557 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRWV. Arete Research upgraded shares of CoreWeave to a "hold" rating in a research report on Thursday, June 5th. DA Davidson restated an "underperform" rating and issued a $36.00 price objective on shares of CoreWeave in a research report on Tuesday, June 10th. JMP Securities initiated coverage on shares of CoreWeave in a research report on Thursday, May 22nd. They issued a "market perform" rating on the stock. Northland Securities lifted their target price on shares of CoreWeave from $85.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, 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 on the stock. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $90.20.

CoreWeave Stock Down 8.8%

The company has a 50 day moving average of $141.29. 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 issued its earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Western Pacific Wealth Management LP purchased a new position in shares of CoreWeave during the second quarter valued at approximately $82,000. RFG Holdings Inc. purchased a new position in shares of CoreWeave during the second quarter valued at approximately $1,450,000. Aua Capital Management LLC purchased a new position in shares of CoreWeave during the second quarter valued at approximately $397,000. Sivia Capital Partners LLC purchased a new position in shares of CoreWeave during the second quarter valued at approximately $39,824,000. Finally, Wesbanco Bank Inc. purchased a new position in shares of CoreWeave during the second quarter valued at approximately $212,000.

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.