CoreWeave (NASDAQ:CRWV) Trading Down 3.1% – Should You Sell?

CoreWeave Inc. (NASDAQ:CRWV)’s share price dropped 3.1% during mid-day trading on Wednesday . The stock traded as low as $70.43 and last traded at $71.61. Approximately 17,853,287 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 24,650,189 shares. The stock had previously closed at $73.90.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRWV. HC Wainwright restated a “buy” rating and issued a $180.00 price objective on shares of CoreWeave in a report on Wednesday, November 12th. Macquarie lowered their price target on CoreWeave from $140.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $110.00 target price on shares of CoreWeave in a research note on Tuesday, November 11th. Melius Research set a $140.00 price target on shares of CoreWeave in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CoreWeave in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $127.70.

CoreWeave Trading Down 3.1%

The firm has a market capitalization of $27.67 billion and a P/E ratio of -49.39. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. The stock has a 50 day simple moving average of $90.62 and a 200-day simple moving average of $114.45.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. The business’s quarterly revenue was up 133.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.82) EPS.

Insider Buying and Selling

In other CoreWeave news, CEO Michael N. Intrator sold 32,455 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $65.47, for a total transaction of $2,124,828.85. Following the sale, the chief executive officer owned 5,893,690 shares in the company, valued at approximately $385,859,884.30. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian M. Venturo sold 281,250 shares of CoreWeave stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $79.36, for a total transaction of $22,320,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,587,398 shares of company stock worth $2,182,582,391.

Hedge Funds Weigh In On CoreWeave

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP grew its holdings in shares of CoreWeave by 190.7% in the third quarter. Allworth Financial LP now owns 4,358 shares of the company’s stock worth $596,000 after purchasing an additional 2,859 shares during the last quarter. IFP Advisors Inc lifted its position in CoreWeave by 1,009.7% during the third quarter. IFP Advisors Inc now owns 8,223 shares of the company’s stock valued at $1,125,000 after acquiring an additional 7,482 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of CoreWeave during the third quarter worth about $27,000. CIBC Private Wealth Group LLC raised its holdings in shares of CoreWeave by 228.7% in the third quarter. CIBC Private Wealth Group LLC now owns 23,920 shares of the company’s stock worth $3,273,000 after buying an additional 16,643 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of CoreWeave in the third quarter valued at about $3,670,000.

About CoreWeave

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.