Weave Communications (NYSE:WEAV) Shares Down 0.9% – Here’s Why

Weave Communications, Inc. (NYSE:WEAV) traded down 0.9% during mid-day trading on Tuesday . The stock traded as low as $5.55 and last traded at $5.66. 658,523 shares were traded during mid-day trading, a decline of 58% from the average session volume of 1,575,264 shares. The stock had previously closed at $5.71.

Analyst Ratings Changes

A number of brokerages recently weighed in on WEAV. Piper Sandler cut their price target on shares of Weave Communications from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Weave Communications in a research report on Friday, March 27th. Finally, Stifel Nicolaus cut their price target on shares of Weave Communications from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

Weave Communications Stock Down 0.9%

The firm has a market capitalization of $450.37 million, a price-to-earnings ratio of -18.26 and a beta of 1.63. The business’s 50-day moving average is $5.13 and its two-hundred day moving average is $5.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $65.50 million for the quarter, compared to the consensus estimate of $64.57 million. Weave Communications had a negative net margin of 10.05% and a negative return on equity of 26.46%. On average, equities analysts anticipate that Weave Communications, Inc. will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In other Weave Communications news, CRO Joseph David Mcneil sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $5.53, for a total transaction of $138,250.00. Following the sale, the executive directly owned 505,721 shares in the company, valued at approximately $2,796,637.13. This trade represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 16.40% of the company’s stock.

Institutional Trading of Weave Communications

Several hedge funds have recently bought and sold shares of WEAV. Hilton Head Capital Partners LLC acquired a new stake in Weave Communications during the 4th quarter worth approximately $26,000. Amundi raised its holdings in Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after buying an additional 1,130 shares during the period. AXQ Capital LP acquired a new stake in Weave Communications during the 3rd quarter worth approximately $67,000. CWM LLC raised its holdings in Weave Communications by 1,125.6% during the 4th quarter. CWM LLC now owns 9,033 shares of the company’s stock worth $69,000 after buying an additional 8,296 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Weave Communications by 119.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock worth $72,000 after buying an additional 4,731 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Company Profile

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.