CoreWeave (NASDAQ:CRWV) Stock Price Down 3.5% - What's Next?

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s share price dropped 3.5% during trading on Wednesday . The company traded as low as $164.63 and last traded at $166.50. Approximately 7,302,559 shares were traded during trading, a decline of 66% from the average daily volume of 21,724,377 shares. The stock had previously closed at $172.62.

Wall Street Analyst Weigh In

CRWV has been the topic of several research analyst reports. JMP Securities initiated coverage on CoreWeave in a research note on Thursday, May 22nd. They issued a "market perform" rating on the stock. Northland Capmk upgraded shares of CoreWeave to a "strong-buy" rating in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of CoreWeave in a research report on Tuesday, April 22nd. They set a "hold" rating and a $45.00 price objective for the company. Mizuho raised their target price on shares of CoreWeave from $46.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Moffett Nathanson began coverage on shares of CoreWeave in a report on Monday, May 5th. They set a "neutral" rating and a $43.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $65.00.

CoreWeave Price Performance

The stock's 50-day simple moving average is $97.15.

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

Insiders Place Their Bets

In related news, insider Kristen J. Mcveety sold 69,460 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the transaction, the chief financial officer now owns 231,811 shares in the company, valued at approximately $9,272,440. The trade was a 5.20% decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of CoreWeave

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

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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