CoreWeave (NASDAQ:CRWV) Stock Price Down 2.5% - What's Next?

Key Points

• CoreWeave Inc. shares fell by 2.5% to $112.72, with a significant drop in trading volume of about 80% compared to the average daily volume.
• Analyst ratings for CoreWeave are mixed, with 19 analysts
• CoreWeave recently reported an EPS of (0.83), missing analysts' estimates by $0.67.

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) dropped 2.5% on Monday . The stock traded as low as $111.60 and last traded at $112.72. Approximately 3,869,598 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 19,174,912 shares. The stock had previously closed at $115.62.

Wall Street Analyst Weigh In

CRWV has been the subject of several recent analyst reports. Arete initiated coverage on CoreWeave in a research note on Thursday, June 5th. They set a "neutral" rating and a $130.00 target price for the company. DA Davidson reaffirmed an "underperform" rating and set a $36.00 target price on shares of CoreWeave in a research note on Tuesday, June 10th. Citizens Jmp raised shares of CoreWeave to a "hold" rating in a research note on Thursday, May 22nd. HSBC assumed coverage on shares of CoreWeave in a research note on Wednesday, July 16th. They issued a "reduce" rating and a $32.00 price target for the company. Finally, Argus assumed coverage on CoreWeave in a research note on Friday, July 11th. They issued a "buy" rating and a $200.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $85.25.

CoreWeave Stock Down 3.9%

The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.60. The firm has a fifty day moving average of $140.23.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRWV. Western Pacific Wealth Management LP acquired a new position in CoreWeave during the 2nd quarter valued at about $82,000. RFG Holdings Inc. acquired a new position in CoreWeave during the 2nd quarter valued at about $1,450,000. Aua Capital Management LLC acquired a new position in CoreWeave during the 2nd quarter valued at about $397,000. Sivia Capital Partners LLC acquired a new position in CoreWeave during the 2nd quarter valued at about $39,824,000. Finally, Wesbanco Bank Inc. purchased a new stake in CoreWeave during the 2nd quarter valued at about $212,000.

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.

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