Harber Asset Management LLC Invests $4.71 Million in Weave Communications, Inc. $WEAV

Harber Asset Management LLC acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 785,687 shares of the company’s stock, valued at approximately $4,706,000. Weave Communications makes up about 2.8% of Harber Asset Management LLC’s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Weave Communications during the fourth quarter worth approximately $26,000. Optiver Holding B.V. increased its stake in shares of Weave Communications by 1,201.2% in the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after purchasing an additional 6,775 shares during the period. Amundi raised its stake in Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after acquiring an additional 1,130 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Weave Communications in the 2nd quarter worth approximately $60,000. Finally, CWM LLC boosted its stake 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 purchasing an additional 8,296 shares in the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of WEAV stock opened at $7.30 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $584 million, a PE ratio of -29.20 and a beta of 1.67. Weave Communications, Inc. has a 52 week low of $4.24 and a 52 week high of $8.11. The stock’s fifty day moving average is $6.30 and its 200-day moving average is $5.68.

Weave Communications (NYSE:WEAV) last released its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $67.54 million during the quarter, compared to analysts’ expectations of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. Equities research analysts expect that Weave Communications, Inc. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

WEAV has been the topic of several recent research reports. Loop Capital lowered shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price target on the stock. in a research report on Wednesday. B. Riley Financial cut shares of Weave Communications from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.25 to $7.40 in a report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Weave Communications from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Piper Sandler downgraded Weave Communications from an “overweight” rating to a “hold” rating and lowered their price target for the company from $8.00 to $7.40 in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Weave Communications has a consensus rating of “Hold” and an average price target of $7.84.

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.