Irenic Capital Management LP Takes Position in Weave Communications, Inc. $WEAV

Irenic Capital Management LP purchased a new stake in Weave Communications, Inc. (NYSE:WEAV) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 226,731 shares of the company’s stock, valued at approximately $1,721,000. Irenic Capital Management LP owned approximately 0.29% of Weave Communications as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hilton Head Capital Partners LLC purchased a new position in Weave Communications during the 4th quarter valued at about $26,000. Amundi increased its holdings 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. Tower Research Capital LLC TRC increased its holdings in Weave Communications by 119.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock valued at $72,000 after acquiring an additional 4,731 shares in the last quarter. CWM LLC increased 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 acquiring an additional 8,296 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Weave Communications during the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Stock Performance

Shares of NYSE WEAV opened at $5.32 on Thursday. The company has a market cap of $422.91 million, a PE ratio of -17.14 and a beta of 1.69. Weave Communications, Inc. has a 12 month low of $4.24 and a 12 month high of $9.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50-day simple moving average of $5.44 and a 200-day simple moving average of $5.85.

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

Analyst Ratings Changes

Several equities analysts have weighed in on WEAV shares. Piper Sandler dropped their target price on shares of 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 lowered their price target on shares of 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 reiterated 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

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.