Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) were up 4.7% during mid-day trading on Tuesday . The stock traded as high as $183.98 and last traded at $181.89. Approximately 7,905,766 shares traded hands during trading, a decline of 64% from the average daily volume of 21,796,793 shares. The stock had previously closed at $173.68.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Arete assumed coverage on shares of CoreWeave in a report on Thursday, June 5th. They set a "neutral" rating and a $130.00 price objective on the stock. Morgan Stanley increased their price target on shares of CoreWeave from $46.00 to $58.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Moffett Nathanson began coverage on shares of CoreWeave in a research report on Monday, May 5th. They issued a "neutral" rating and a $43.00 target price on the stock. Bank of America lowered shares of CoreWeave from a "buy" rating to a "neutral" rating in a report on Monday, June 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoreWeave in a research report on Tuesday, April 22nd. They set a "hold" rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $65.00.
Check Out Our Latest Stock Analysis on CoreWeave
CoreWeave Stock Down 0.6%
The stock's 50-day simple moving average is $97.15.
CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.67).
Insider Transactions at CoreWeave
In other CoreWeave news, insider Kristen J. Mcveety sold 69,460 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $2,778,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nitin Agrawal sold 12,720 shares of CoreWeave stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $508,800.00. Following the sale, the chief financial officer now owns 231,811 shares of the company's stock, valued at $9,272,440. The trade was a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here.
Institutional Investors Weigh In On CoreWeave
A hedge fund recently bought a new stake in CoreWeave stock. Gamco Investors INC. ET AL acquired a new position in CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,575 shares of the company's stock, valued at approximately $318,000.
About CoreWeave
(
Get Free Report)
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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