CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) was the target of some unusual options trading on Wednesday. Investors purchased 412,498 call options on the stock. This is an increase of approximately 75% compared to the typical volume of 235,287 call options.
Institutional Trading of CoreWeave
Several hedge funds and other institutional investors have recently made changes to their positions in the company. McAlister Sweet & Associates Inc. bought a new stake in shares of CoreWeave during the second quarter worth about $277,000. Howard Financial Services LTD. bought a new stake in shares of CoreWeave during the second quarter worth about $489,000. Gamco Investors INC. ET AL bought a new stake in shares of CoreWeave during the first quarter worth about $318,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of CoreWeave during the first quarter worth about $963,000.
CoreWeave Stock Performance
CoreWeave stock traded up $13.43 during midday trading on Friday, reaching $165.20. The company's stock had a trading volume of 10,442,374 shares, compared to its average volume of 18,936,734. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00. 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 firm's 50-day moving average is $116.37.
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).
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on CoreWeave from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Arete Research upgraded CoreWeave to a "hold" rating in a research report on Thursday, June 5th. JMP Securities assumed coverage on CoreWeave in a research report on Thursday, May 22nd. They set a "market perform" rating on the stock. Mizuho increased their price objective on CoreWeave from $46.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Melius Research upgraded CoreWeave to a "hold" rating in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, sixteen have issued 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, CoreWeave currently has a consensus rating of "Hold" and an average price target of $65.00.
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About CoreWeave
(
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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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