CoreWeave (NASDAQ:CRWV) Trading Down 4.3% - What's Next?

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares fell 4.3% on Friday . The company traded as low as $125.30 and last traded at $126.49. 5,236,291 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 19,947,361 shares. The stock had previously closed at $132.21.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CRWV. Citizens Jmp upgraded shares of CoreWeave to a "hold" rating in a report on Thursday, May 22nd. HC Wainwright reiterated a "neutral" rating on shares of CoreWeave in a report on Monday. Barclays reiterated an "equal weight" rating and set a $100.00 price target (up from $70.00) on shares of CoreWeave in a report on Tuesday, May 27th. Melius began coverage on shares of CoreWeave in a report on Tuesday, April 22nd. They set a "hold" rating and a $40.00 price target for the company. Finally, DA Davidson reiterated an "underperform" rating and set a $36.00 price target on shares of CoreWeave in a report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CoreWeave currently has a consensus rating of "Hold" and an average price target of $78.95.

CoreWeave Trading Down 6.9%

The stock's 50 day moving average is $133.18. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released 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 Investors Weigh In On CoreWeave

A number of institutional investors and hedge funds have recently modified their holdings of CRWV. Cisco Systems Inc. acquired a new stake in shares of CoreWeave in the second quarter worth about $173,493,000. Sivia Capital Partners LLC acquired a new stake in CoreWeave in the 2nd quarter valued at $39,824,000. Renaissance Capital LLC acquired a new stake in CoreWeave in the 2nd quarter valued at $5,131,000. Goldman Sachs Group Inc. bought a new stake in CoreWeave during the 1st quarter worth approximately $963,000. Finally, Floyd Financial Group LLC bought a new stake in CoreWeave during the 2nd quarter worth approximately $2,714,000.

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.

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