CoreWeave (NASDAQ:CRWV) Trading Down 2% - Time to Sell?

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) fell 2% during trading on Monday . The stock traded as low as $171.50 and last traded at $179.98. 8,491,639 shares changed hands during trading, a decline of 61% from the average session volume of 21,726,338 shares. The stock had previously closed at $183.58.

Analysts Set New Price Targets

CRWV has been the subject of a number of research analyst reports. Citigroup lifted their price target on CoreWeave from $43.00 to $94.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. Wall Street Zen downgraded CoreWeave from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group upped their price target on CoreWeave from $54.00 to $61.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Bank of America cut CoreWeave from a "buy" rating to a "neutral" rating in a report on Monday, June 16th. Finally, Stifel Nicolaus initiated coverage on CoreWeave in a report on Tuesday, April 22nd. They set a "buy" rating and a $55.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $65.00.

CoreWeave Stock Performance

The stock has a fifty day simple moving average of $101.90.

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

Hedge Funds Weigh In On CoreWeave

An institutional investor recently bought a new position in CoreWeave stock. Gamco Investors INC. ET AL bought a new position in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 8,575 shares of the company's stock, valued at approximately $318,000.

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.