Weave Communications (NYSE:WEAV) Sees Unusually-High Trading Volume

Weave Communications, Inc. (NYSE:WEAV – Get Rating) shares saw strong trading volume on Tuesday . 144,992 shares traded hands during trading, a decline of 35% from the previous session’s volume of 223,597 shares.The stock last traded at $7.73 and had previously closed at $7.75.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WEAV. Piper Sandler reiterated a “neutral” rating and set a $6.00 price objective on shares of Weave Communications in a research note on Thursday, February 23rd. Raymond James raised Weave Communications from a “market perform” rating to an “outperform” rating and set a $6.00 price objective on the stock in a report on Thursday, May 4th.

Weave Communications Price Performance

The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average is $5.24 and its 200-day moving average is $4.93.

Weave Communications (NYSE:WEAV – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.04. The business had revenue of $37.69 million during the quarter, compared to analysts’ expectations of $36.40 million. Weave Communications had a negative return on equity of 51.25% and a negative net margin of 29.49%. On average, equities analysts predict that Weave Communications, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Weave Communications

In other news, CRO Matthew C. Hyde sold 5,353 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $5.30, for a total transaction of $28,370.90. Following the sale, the executive now owns 601,873 shares of the company’s stock, valued at approximately $3,189,926.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 41.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Weave Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Weave Communications by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 83,683 shares of the company’s stock worth $383,000 after acquiring an additional 2,257 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Weave Communications by 12.2% during the 1st quarter. Rhumbline Advisers now owns 25,529 shares of the company’s stock worth $127,000 after buying an additional 2,770 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Weave Communications by 90.8% during the first quarter. Tower Research Capital LLC TRC now owns 6,800 shares of the company’s stock worth $34,000 after purchasing an additional 3,236 shares in the last quarter. Amalgamated Bank raised its position in shares of Weave Communications by 535.1% during the 3rd quarter. Amalgamated Bank now owns 5,055 shares of the company’s stock worth $26,000 after purchasing an additional 4,259 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of Weave Communications by 236.3% during the 1st quarter. Citigroup Inc. now owns 7,325 shares of the company’s stock worth $44,000 after purchasing an additional 5,147 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Weave Communications Company Profile

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Weave Communications, Inc provides a customer communications and engagement software platform in the United States and Canada. Its platform enables small and medium-sized businesses to maximize the value of their customer interactions and minimize the time and effort spent on manual or mundane tasks.