Weave Communications (NYSE:WEAV) Sees Strong Trading Volume

Weave Communications, Inc. (NYSE:WEAV – Get Rating) shares saw strong trading volume on Tuesday . 144,992 shares were traded during trading, a decline of 35% from the previous session’s volume of 223,597 shares.The stock last traded at $7.73 and had previously closed at $7.75.

Analyst Ratings Changes

A number of equities research analysts have commented on WEAV shares. Raymond James raised shares of Weave Communications from a “market perform” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research report on Thursday, May 4th. Piper Sandler restated a “neutral” rating and issued a $6.00 price target on shares of Weave Communications in a research note on Thursday, February 23rd.

Weave Communications Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.05 and a current ratio of 2.05. The company’s 50 day moving average is $5.24 and its 200 day moving average is $4.93.

Weave Communications (NYSE:WEAV – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The business had revenue of $37.69 million for the quarter, compared to analysts’ expectations of $36.40 million. Weave Communications had a negative return on equity of 51.25% and a negative net margin of 29.49%. Equities analysts expect that Weave Communications, Inc. will post -0.54 EPS for the current fiscal year.

Insider Transactions at Weave Communications

In related news, CRO Matthew C. Hyde sold 5,353 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $5.30, for a total value of $28,370.90. Following the completion of the sale, the executive now owns 601,873 shares in the company, valued at approximately $3,189,926.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 41.00% of the company’s stock.

Institutional Trading of Weave Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pelion Inc. purchased a new position in shares of Weave Communications in the 3rd quarter valued at approximately $28,004,000. Wasatch Advisors LP raised its stake in shares of Weave Communications by 11.6% during the first quarter. Wasatch Advisors LP now owns 2,878,902 shares of the company’s stock worth $14,308,000 after purchasing an additional 298,155 shares during the last quarter. BlackRock Inc. increased its stake in Weave Communications by 557.8% in the 3rd quarter. BlackRock Inc. now owns 1,601,556 shares of the company’s stock valued at $8,088,000 after buying an additional 1,358,074 shares during the period. Vanguard Group Inc. raised its position in Weave Communications by 58.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,439,683 shares of the company’s stock worth $7,270,000 after buying an additional 530,248 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Weave Communications by 8.8% in the 1st quarter. State Street Corp now owns 687,011 shares of the company’s stock worth $3,414,000 after acquiring an additional 55,580 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Weave Communications Company Profile

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Weave Communications, Inc provides a customer communications and engagement software platform in the United States and Canada. Its platform enables small and medium-sized businesses to maximize the value of their customer interactions and minimize the time and effort spent on manual or mundane tasks.