Weave Communications (NYSE:WEAV) Sees Unusually-High Trading Volume – Time to Buy?

Weave Communications, Inc. (NYSE:WEAV) shares saw unusually-strong trading volume on Tuesday . Approximately 1,120,274 shares changed hands during trading, a decline of 42% from the previous session’s volume of 1,922,443 shares.The stock last traded at $7.2950 and had previously closed at $7.29.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler downgraded 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 report on Tuesday, August 18th. UBS Group restated an “accumulate” rating on shares of Weave Communications in a research report on Tuesday, August 18th. Loop Capital cut shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price for the company. in a research note on Wednesday, August 19th. Raymond James Financial downgraded shares of Weave Communications from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.84.

Weave Communications Trading Up 0.3%

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average is $6.42 and its 200 day moving average is $5.70. The stock has a market cap of $584.80 million, a PE ratio of -29.24 and a beta of 1.67.

Weave Communications (NYSE:WEAV) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%.The business had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $67.88 million. As a group, analysts predict that Weave Communications, Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP boosted its position in shares of Weave Communications by 16.3% in the 3rd quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company’s stock worth $40,739,000 after buying an additional 855,253 shares in the last quarter. Vanguard Group Inc. increased its holdings in Weave Communications by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,465,810 shares of the company’s stock valued at $36,512,000 after acquiring an additional 179,693 shares in the last quarter. BlackRock Inc. acquired a new position in Weave Communications during the second quarter worth about $31,807,000. Gumshoe Capital Management LLC acquired a new position in Weave Communications during the fourth quarter worth about $22,705,000. Finally, State Street Corp lifted its holdings in shares of Weave Communications by 26.8% in the fourth quarter. State Street Corp now owns 2,172,391 shares of the company’s stock valued at $16,488,000 after purchasing an additional 459,547 shares in the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.