CoreWeave Inc. (NASDAQ:CRWV – Get Free Report)’s stock price traded down 4.2% during trading on Thursday . The company traded as low as $78.27 and last traded at $79.88. Approximately 78,981,579 shares traded hands during trading, an increase of 179% from the average daily volume of 28,272,723 shares. The stock had previously closed at $83.35.
Key Headlines Impacting CoreWeave
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: CoreWeave became the first reported “neocloud” provider to bring a multi-rack NVIDIA Vera Rubin NVL72 cluster online. The system, designed for advanced agentic AI workloads, along with new object-storage features, could help the company attract customers seeking early access to next-generation computing. CoreWeave Brings Up Multi-Rack NVIDIA Vera Rubin NVL72 Cluster
- Positive Sentiment: New short-term contracts signed during the third quarter reportedly carry pricing equivalent to approximately $40 million in annualized revenue per megawatt. CoreWeave also added more than $25 billion in customer commitments, supporting the case that AI infrastructure demand and pricing power remain strong. CoreWeave Continues to Contract New Compute Capacity at Higher Prices
- Neutral Sentiment: A 15-year lease at Blockfusion’s Niagara Falls campus provides additional power and data-center capacity, which may reduce deployment bottlenecks but also commits CoreWeave to continued capital spending. Blockfusion Signs 15-Year Anchor Lease With CoreWeave
- Negative Sentiment: CoreWeave plans to raise $3 billion through convertible senior notes due 2033, with an option for purchasers to buy another $500 million. The financing highlights the cash required to expand GPU capacity, increases interest obligations and could create future equity dilution. CoreWeave Launches $3 Billion Convertible Debt Sale
- Negative Sentiment: The company also established an at-the-market program allowing the sale of up to 35 million Class A shares. Combined with its debt-to-equity ratio of about 5.53, negative earnings and customer concentration, the offering intensified concerns that growth is being financed faster than profitability is developing. CoreWeave Announces At-the-Market Offering Program
Analyst Ratings Changes
Several analysts recently issued reports on CRWV shares. Barclays increased their target price on CoreWeave from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. TD Cowen upgraded CoreWeave to a “buy” rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein increased their price objective on shares of CoreWeave from $67.00 to $74.00 and gave the company an “underperform” rating in a report on Wednesday, August 12th. BTIG Research began coverage on shares of CoreWeave in a research report on Wednesday, July 22nd. They set a “buy” rating on the stock. Finally, UBS Group reissued an “underperform” rating on shares of CoreWeave in a report on Wednesday, August 12th. Twenty-one research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and an average target price of $142.31.
CoreWeave Stock Down 4.2%
The firm has a market cap of $36.65 billion, a P/E ratio of -21.88 and a beta of 7.45. The company’s 50-day simple moving average is $85.43 and its 200 day simple moving average is $94.04. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46.
CoreWeave (NASDAQ:CRWV – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. The firm had revenue of $2.58 billion during the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The firm’s revenue was up 112.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.27) EPS. Research analysts anticipate that CoreWeave Inc. will post -5.19 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Chen Goldberg sold 22,424 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $95.91, for a total transaction of $2,150,685.84. Following the completion of the sale, the executive vice president directly owned 50,550 shares of the company’s stock, valued at approximately $4,848,250.50. The trade was a 30.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Nitin Agrawal sold 66,576 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $83.70, for a total transaction of $5,572,411.20. Following the completion of the transaction, the chief financial officer owned 188,360 shares in the company, valued at approximately $15,765,732. The trade was a 26.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 6,707,258 shares of company stock valued at $604,783,045 in the last three months. 24.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On CoreWeave
A number of institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. grew its stake in CoreWeave by 55.7% in the second quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock worth $1,084,117,000 after purchasing an additional 3,897,741 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of CoreWeave by 13.1% in the 1st quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock worth $437,870,000 after buying an additional 653,398 shares during the period. Clear Street Group Inc. lifted its holdings in shares of CoreWeave by 57.2% in the 4th quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock worth $333,260,000 after buying an additional 1,692,916 shares during the period. Deutsche Bank AG grew its position in shares of CoreWeave by 22,624.0% during the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock worth $273,039,000 after buying an additional 3,796,077 shares in the last quarter. Finally, Amundi increased its stake in shares of CoreWeave by 266.2% during the first quarter. Amundi now owns 3,284,121 shares of the company’s stock valued at $254,421,000 after buying an additional 2,387,337 shares during the period.
About CoreWeave
CoreWeave, Inc is a specialized cloud computing provider focused on infrastructure for artificial intelligence, machine learning, high-performance computing and other data-intensive workloads. The company provides access to accelerated computing resources, particularly graphics processing units (GPUs), through a cloud platform designed for large-scale training, inference, rendering and scientific computing.
Its offerings include on-demand and reserved GPU instances, cloud storage, high-speed networking, Kubernetes-based container orchestration and managed services for deploying and scaling workloads.
Featured Articles
- Five stocks we like better than CoreWeave
- Aeluma’s Selloff Could Be Setting Up Its Next Big Move
- Crypto Bill Stalls, Smart Money Calls: Time to Buy the Dip?
- The September Scramble: Find Sanctuary in These 3 Defensive Dividend Stocks
- The Fed’s Rate Hike Could Backfire If Oil Prices Collapse
Receive News & Ratings for CoreWeave Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreWeave and related companies with MarketBeat.com's FREE daily email newsletter.
