CoreWeave (NASDAQ:CRWV) Stock Price Down 4.8% – Here’s What Happened

CoreWeave Inc. (NASDAQ:CRWV)’s stock price traded down 4.8% during mid-day trading on Tuesday . The stock traded as low as $101.96 and last traded at $106.00. 25,020,696 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 28,541,010 shares. The stock had previously closed at $111.29.

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave’s addition to the Nasdaq-100 is expected to keep driving mechanical buying from index funds and other passive investors, which can support the stock. Nebius and CoreWeave Join the Nasdaq-100, Triggering Index-Fund Buying in AI-Cloud Names
• Positive Sentiment: Backblaze’s new five-year, $335 million storage deal with CoreWeave highlights strong demand for CoreWeave’s AI cloud ecosystem and large-scale infrastructure needs. Backblaze Announces Five-Year Multi-Exabyte Data Storage Agreement with CoreWeave
• Positive Sentiment: Articles highlighting CoreWeave’s massive backlog, rapid revenue growth, and NVIDIA ties reinforce the bullish case that the company remains a major AI infrastructure beneficiary. CoreWeave vs. Nebius: Which AI Infrastructure Stock Has More Upside?
• Positive Sentiment: Jim Cramer’s bullish comments may add near-term sentiment support by keeping CoreWeave in front of retail investors as a favored AI stock. Jim Cramer Shares Why He’s A Believer In CoreWeave (CRWV)
• Neutral Sentiment: CoreWeave also announced a sponsorship deal with BattleBots, which boosts brand visibility but is unlikely to materially affect near-term financial results. CoreWeave Named Official AI Cloud Partner of BattleBots
• Negative Sentiment: Some recent trading showed “sell-the-news” behavior after the Nasdaq-100 debut, suggesting short-term volatility and profit-taking may weigh on shares even amid bullish fundamentals. CoreWeave Sinks 5%, Nebius Dips as AI Cloud Stocks Sell the News on Their NASDAQ 100 Debut

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRWV shares. HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of CoreWeave in a report on Monday, March 2nd. Roth Mkm reaffirmed a “buy” rating and set a $150.00 price target on shares of CoreWeave in a report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $167.00 price objective on shares of CoreWeave in a research report on Thursday, June 11th. Wolfe Research initiated coverage on shares of CoreWeave in a report on Thursday, April 16th. They issued an “outperform” rating and a $150.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of CoreWeave in a research report on Monday, May 4th. Twenty investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

CoreWeave Stock Performance

The company has a market cap of $47.44 billion, a price-to-earnings ratio of -34.08 and a beta of 7.14. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. The company has a fifty day moving average of $111.34 and a two-hundred day moving average of $94.23.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm had revenue of $2.08 billion during the quarter. During the same period in the prior year, the company earned ($0.60) earnings per share. CoreWeave’s revenue for the quarter was up 111.6% compared to the same quarter last year. Equities research analysts anticipate that CoreWeave Inc. will post -4.57 EPS for the current year.

Insider Buying and Selling

In related news, EVP Chen Goldberg sold 5,541 shares of CoreWeave stock in a transaction on Monday, June 15th. The shares were sold at an average price of $107.29, for a total transaction of $594,493.89. Following the completion of the transaction, the executive vice president owned 59,368 shares of the company’s stock, valued at $6,369,592.72. This trade represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 52,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $107.30, for a total value of $5,633,250.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 27,905,074 shares of company stock valued at $3,163,836,081.

Hedge Funds Weigh In On CoreWeave

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after acquiring an additional 20,487,478 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of CoreWeave by 446,194.0% in the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after acquiring an additional 17,847,760 shares during the last quarter. Deutsche Bank AG lifted its position in CoreWeave by 22,624.0% in the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after acquiring an additional 3,796,077 shares in the last quarter. Altimeter Capital Management LP acquired a new position in CoreWeave during the 4th quarter valued at about $230,099,000. Finally, Alyeska Investment Group L.P. boosted its stake in CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after purchasing an additional 3,000,000 shares during the last quarter.

CoreWeave Company Profile

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.