CoreWeave (NASDAQ:CRWV) Stock Price Down 4.5% - Should You Sell?

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares dropped 4.5% on Monday . The company traded as low as $155.26 and last traded at $157.75. Approximately 6,005,199 shares were traded during trading, a decline of 71% from the average daily volume of 20,875,418 shares. The stock had previously closed at $165.20.

Analyst Upgrades and Downgrades

CRWV has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on CoreWeave in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $45.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $55.00 price objective on shares of CoreWeave in a research note on Thursday, May 15th. JMP Securities began coverage on CoreWeave in a report on Thursday, May 22nd. They set a "market perform" rating for the company. Macquarie increased their price target on shares of CoreWeave from $56.00 to $65.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, Barclays restated an "equal weight" rating and set a $100.00 price objective (up from $70.00) on shares of CoreWeave in a research note on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CoreWeave has an average rating of "Hold" and a consensus price target of $73.24.

CoreWeave Stock Performance

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 company has a 50 day moving average of $120.89.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced 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 Trading of CoreWeave

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new position in CoreWeave in the 1st quarter valued at $963,000. Gamco Investors INC. ET AL purchased a new stake in shares of CoreWeave during the first quarter worth $318,000. Fox Hill Wealth Management acquired a new stake in shares of CoreWeave in the second quarter valued at about $858,000. Howard Financial Services LTD. purchased a new position in shares of CoreWeave in the second quarter worth about $489,000. Finally, Hedges Asset Management LLC purchased a new position in shares of CoreWeave in the second quarter worth about $391,000.

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.