Meros Investment Management LP Invests $4.34 Million in Weave Communications, Inc. $WEAV

Meros Investment Management LP acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 571,883 shares of the company’s stock, valued at approximately $4,341,000. Weave Communications accounts for approximately 1.7% of Meros Investment Management LP’s portfolio, making the stock its 29th largest position. Meros Investment Management LP owned approximately 0.73% of Weave Communications at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in shares of Weave Communications during the fourth quarter worth approximately $26,000. Amundi boosted its holdings in shares of Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after acquiring an additional 1,130 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Weave Communications by 119.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock worth $72,000 after acquiring an additional 4,731 shares during the period. CWM LLC boosted its holdings in shares of Weave Communications by 1,125.6% during the fourth quarter. CWM LLC now owns 9,033 shares of the company’s stock worth $69,000 after acquiring an additional 8,296 shares during the period. Finally, AXQ Capital LP bought a new stake in shares of Weave Communications during the third quarter worth approximately $67,000. Institutional investors own 86.83% of the company’s stock.

Analysts Set New Price Targets

WEAV has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Weave Communications from $12.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Stifel Nicolaus reduced their price objective on Weave Communications from $11.00 to $9.00 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Weave Communications in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.00.

Weave Communications Trading Down 1.4%

Shares of WEAV stock opened at $5.45 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. The stock has a market cap of $433.26 million, a P/E ratio of -17.56 and a beta of 1.69. The stock has a 50 day simple moving average of $5.43 and a 200 day simple moving average of $5.87. Weave Communications, Inc. has a 1 year low of $4.24 and a 1 year high of $9.10.

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

Weave Communications 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.