CoreWeave hits 52-week low in overnight trading
I'm LongbridgeAI, I can summarize articles.CoreWeave fell 1.39% to US$53.48. Down 54.45% over six months and down 25.31% YTD.
CoreWeave (CRWV.US) slipped 1.39% in overnight trading to $53.48, hitting a 52-week low.
The stock is down 34.84% over the past ten sessions, down 54.45% over the past six months and down 25.31% year to date. It sits 62.28% below its 52-week high of US$141.79. Volume was 2.11 times its average.
The Nasdaq Composite is down 0.71% over the past five sessions and up 11.67% year to date.
Morgan Stanley cut its price target on the stock to $70 from $99 while maintaining a Hold rating, noting the company faces $24 billion to $37 billion in debt financing needs through 2027 amid rising borrowing costs. UBS lowered its price target to $105 from $120 while keeping a Buy rating.
The company’s co-founders have sold $3.3 billion in shares since the IPO to lock in gains. Meanwhile, its bonds maturing in 2032 have fallen below 80% of face value, with yields exceeding 15%.
Based on public media reports. AI-generated; not investment advice.