Weave Communications, Inc. (NYSE:WEAV) Short Interest Update

Weave Communications, Inc. (NYSE:WEAV) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 4,216,473 shares, a decline of 32.4% from the February 26th total of 6,240,335 shares. Approximately 6.6% of the shares of the company are sold short. Based on an average daily volume of 1,826,182 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Raymond James Financial downgraded shares of Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, January 6th. Piper Sandler reduced their price objective on shares of Weave Communications from $12.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Stifel Nicolaus decreased their price objective 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Weave Communications in a research note on Friday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Activity at Weave Communications

In other news, CRO Joseph David Mcneil sold 25,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $5.53, for a total value of $138,250.00. Following the transaction, the executive owned 505,721 shares in the company, valued at $2,796,637.13. This represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Weave Communications

Several institutional investors have recently made changes to their positions in WEAV. Hilton Head Capital Partners LLC bought a new stake in shares of Weave Communications during the fourth quarter worth $26,000. Ameritas Investment Partners Inc. grew its holdings in shares of Weave Communications by 43.7% in the second quarter. Ameritas Investment Partners Inc. now owns 5,955 shares of the company’s stock worth $50,000 after purchasing an additional 1,812 shares during the last quarter. Amundi increased its stake in Weave Communications by 27.1% in 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 purchased a new position in Weave Communications in the 3rd quarter worth about $67,000. Finally, CWM LLC lifted 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 valued at $69,000 after buying an additional 8,296 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

NYSE WEAV traded up $0.04 during trading hours on Monday, reaching $4.41. The company’s stock had a trading volume of 2,108,885 shares, compared to its average volume of 1,646,714. Weave Communications has a 1 year low of $4.24 and a 1 year high of $11.34. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $346.45 million, a price-to-earnings ratio of -12.24 and a beta of 1.73. The firm’s 50-day moving average price is $5.56 and its 200-day moving average price is $6.38.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Weave Communications had a negative net margin of 11.74% and a negative return on equity of 33.06%. The business had revenue of $63.40 million during the quarter, compared to analyst estimates of $63.19 million. On average, equities research analysts predict that Weave Communications will post -0.33 EPS for the current fiscal year.

About Weave Communications

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.