CoreWeave (NASDAQ:CRWV) Shares Gap Down – Time to Sell?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $138.29, but opened at $132.93. CoreWeave shares last traded at $132.45, with a volume of 3,274,411 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRWV shares. Melius started coverage on shares of CoreWeave in a report on Tuesday, April 22nd. They issued a “hold” rating and a $40.00 target price on the stock. Moffett Nathanson started coverage on shares of CoreWeave in a report on Monday, May 5th. They issued a “neutral” rating and a $43.00 target price on the stock. Morgan Stanley raised their target price 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. Stifel Nicolaus set a $115.00 target price on shares of CoreWeave and gave the stock a “hold” rating in a report on Tuesday, July 8th. Finally, Arete started coverage on shares of CoreWeave in a report on Thursday, June 5th. They issued a “neutral” rating and a $130.00 target price on the stock. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $81.56.

CoreWeave Trading Down 9.0%

The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60. The company’s 50 day moving average is $126.49.

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

Institutional Trading of CoreWeave

Large investors have recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP purchased a new position in shares of CoreWeave during the 2nd quarter valued at $82,000. Webster Bank N. A. purchased a new position in shares of CoreWeave during the 2nd quarter valued at $82,000. Farther Finance Advisors LLC purchased a new position in shares of CoreWeave during the 2nd quarter valued at $90,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of CoreWeave during the 2nd quarter valued at $117,000. Finally, Wesbanco Bank Inc. purchased a new position in shares of CoreWeave during the 2nd 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.