Weave Communications, Inc. $WEAV Stock: Gagnon Securities LLC Cuts Position

Gagnon Securities LLC lowered its stake in Weave Communications, Inc. (NYSE:WEAV) by 68.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,143 shares of the company’s stock after selling 108,027 shares during the period. Gagnon Securities LLC’s holdings in Weave Communications were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Weave Communications during the second quarter worth about $31,807,000. Pale Fire Capital SE purchased a new stake in shares of Weave Communications during the first quarter worth approximately $6,897,000. Engine Capital Management LP acquired a new stake in Weave Communications in the first quarter valued at approximately $4,858,000. Harber Asset Management LLC acquired a new stake in Weave Communications in the second quarter valued at approximately $4,706,000. Finally, Bank of New York Mellon Corp acquired a new stake in Weave Communications in the second quarter valued at approximately $4,526,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler downgraded shares of Weave Communications from an “overweight” rating to a “hold” rating and decreased their price target for the stock from $8.00 to $7.40 in a research note on Tuesday, August 18th. Wall Street Zen downgraded shares of Weave Communications from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. UBS Group reissued an “accumulate” rating on shares of Weave Communications in a research report on Tuesday, August 18th. Weiss Ratings upgraded shares of Weave Communications from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 20th. Finally, Loop Capital cut shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price objective for the company. in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.80.

Weave Communications Price Performance

Shares of NYSE WEAV opened at $7.42 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25. Weave Communications, Inc. has a fifty-two week low of $4.24 and a fifty-two week high of $7.70. The firm has a market capitalization of $593.51 million, a PE ratio of -29.68 and a beta of 1.68. The stock’s 50-day simple moving average is $7.37 and its 200-day simple moving average is $6.19.

About Weave Communications

Weave Communications provides a cloud-based communications and workflow platform for small and midsize businesses. Its services are designed to help businesses manage customer interactions and coordinate day-to-day operations. The platform brings together tools such as business phone service, text messaging, appointment scheduling, payment processing, and online reputation management. Weave focuses particularly on healthcare practices, including dental, medical, and veterinary offices, as well as other local service businesses.