CoreWeave (NASDAQ:CRWV) Trading Up 4.7% – Here’s Why

Shares of CoreWeave Inc. (NASDAQ:CRWV) rose 4.7% on Tuesday . The company traded as high as $183.98 and last traded at $181.89. Approximately 7,905,766 shares were traded 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

A number of brokerages have recently issued reports on CRWV. Melius assumed coverage on shares of CoreWeave in a report on Tuesday, April 22nd. They issued a “hold” rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoreWeave in a report on Tuesday, April 22nd. They set a “hold” rating and a $45.00 target price on the stock. Barclays reissued an “equal weight” rating and issued a $100.00 price target (up from $70.00) on shares of CoreWeave in a report on Tuesday, May 27th. Mizuho upped their price target on shares of CoreWeave from $46.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Finally, Melius Research raised CoreWeave to a “hold” rating in a research note on Tuesday, April 22nd. Two 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $65.00.

CoreWeave Trading Down 0.3%

The business has a 50-day simple moving average of $94.51.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings data 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).

Insider Buying and Selling at CoreWeave

In related news, CFO Nitin Agrawal sold 12,720 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 231,811 shares in the company, valued at $9,272,440. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kristen J. Mcveety sold 69,460 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $2,778,400.00. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CoreWeave stock. Gamco Investors INC. ET AL purchased a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,575 shares of the company’s stock, valued at approximately $318,000.

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.