CoreWeave Sees Unusually Large Options Volume (NASDAQ:CRWV)

CoreWeave Inc. (NASDAQ:CRWV) was the target of some unusual options trading on Wednesday. Investors bought 412,498 call options on the company. This is an increase of approximately 75% compared to the average daily volume of 235,287 call options.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. McAlister Sweet & Associates Inc. bought a new position in shares of CoreWeave during the 2nd quarter worth about $277,000. Howard Financial Services LTD. bought a new position in shares of CoreWeave during the 2nd quarter worth about $489,000. Gamco Investors INC. ET AL bought a new position in shares of CoreWeave during the 1st quarter worth about $318,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of CoreWeave during the 1st quarter worth about $963,000.

Analysts Set New Price Targets

CRWV has been the topic of a number of research analyst reports. Citigroup lifted their target price on CoreWeave from $43.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft assumed coverage on CoreWeave in a report on Tuesday, April 22nd. They issued a “hold” rating and a $45.00 target price on the stock. Jefferies Financial Group assumed coverage on CoreWeave in a research note on Tuesday, April 22nd. They set a “buy” rating and a $51.00 price objective on the stock. Northland Capmk upgraded CoreWeave to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Arete Research upgraded CoreWeave to a “hold” rating in a research note on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.00.

CoreWeave Trading Up 8.8%

NASDAQ:CRWV opened at $165.20 on Friday. CoreWeave has a 1 year low of $33.51 and a 1 year high of $187.00. The firm has a fifty day moving average price of $113.89. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60.

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

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.