CoreWeave (NASDAQ:CRWV) Stock Price Down 6.5% - Should You Sell?

Key Points

• CoreWeave's stock has declined by 6.5%, trading as low as $103.11, well below the previous closing price of $114.13.
• Analysts maintain a mixed outlook on CoreWeave, with a consensus rating of "Hold" and a price target averaging $90.20, reflecting varying levels of confidence in the company's future performance.
• Recent institutional activity indicates that large investors are actively engaging with the stock, with Chelsea Counsel Co. and Chilton Capital Management both establishing new positions in CoreWeave during the 2nd quarter.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) dropped 6.5% during mid-day trading on Friday . The stock traded as low as $103.11 and last traded at $106.75. Approximately 5,818,428 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 18,967,873 shares. The stock had previously closed at $114.13.

Analysts Set New Price Targets

CRWV has been the topic of several analyst reports. The Goldman Sachs Group upped their target price on shares of CoreWeave from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Northland Capmk upgraded shares of CoreWeave to a "strong-buy" rating in a research note on Tuesday, May 13th. Bank of America downgraded shares of CoreWeave from a "buy" rating to a "neutral" rating in a research report on Monday, June 16th. Morgan Stanley increased their price objective on shares of CoreWeave from $58.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Arete began coverage on shares of CoreWeave in a research report on Thursday, June 5th. They set a "neutral" rating and a $130.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $90.20.

CoreWeave Price Performance

The firm has a 50 day simple moving average of $141.29. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.44 and a current ratio of 0.44.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Western Pacific Wealth Management LP purchased a new stake in shares of CoreWeave in the second quarter worth $82,000. RFG Holdings Inc. purchased a new position in CoreWeave during the second quarter valued at $1,450,000. Aua Capital Management LLC purchased a new position in CoreWeave during the second quarter valued at $397,000. Sivia Capital Partners LLC purchased a new position in CoreWeave during the second quarter valued at $39,824,000. Finally, Wesbanco Bank Inc. purchased a new position in CoreWeave during the second quarter valued at $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.