Traders Buy High Volume of CoreWeave Call Options (NASDAQ:CRWV)

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) was the target of some unusual options trading activity on Thursday. Stock investors acquired 373,356 call options on the company. This is an increase of approximately 42% compared to the typical volume of 262,190 call options.

CoreWeave Trading Down 6.9%

CRWV traded down $9.16 during trading on Friday, hitting $123.05. The company had a trading volume of 9,312,179 shares, compared to its average volume of 20,001,943. CoreWeave has a one year low of $33.51 and a one year high of $187.00. The stock has a 50-day moving average of $133.18. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CRWV shares. Barclays reissued an "equal weight" rating and issued a $100.00 price target (up previously from $70.00) on shares of CoreWeave in a report on Tuesday, May 27th. Northland Capmk raised shares of CoreWeave to a "strong-buy" rating in a report on Tuesday, May 13th. Citigroup lifted their target price on shares of CoreWeave from $43.00 to $94.00 and gave the stock a "neutral" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their target price on shares of CoreWeave from $43.00 to $66.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Wall Street Zen lowered shares of CoreWeave from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CoreWeave has a consensus rating of "Hold" and a consensus target price of $78.95.

Institutional Investors Weigh In On CoreWeave

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cisco Systems Inc. bought a new stake in CoreWeave during the 2nd quarter worth about $173,493,000. Sivia Capital Partners LLC bought a new stake in CoreWeave during the 2nd quarter worth about $39,824,000. Renaissance Capital LLC bought a new stake in CoreWeave during the 2nd quarter worth about $5,131,000. Goldman Sachs Group Inc. bought a new stake in CoreWeave during the 1st quarter worth about $963,000. Finally, Floyd Financial Group LLC bought a new stake in CoreWeave during the 2nd quarter worth about $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.