Short Interest in Weave Communications, Inc. (NYSE:WEAV) Decreases By 32.4%

Weave Communications, Inc. (NYSE:WEAV) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 4,216,473 shares, a decline of 32.4% from the February 26th total of 6,240,335 shares. Approximately 6.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,826,182 shares, the days-to-cover ratio is presently 2.3 days.

Insider Buying and Selling at Weave Communications

In other news, CRO Joseph David Mcneil sold 25,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $5.53, for a total value of $138,250.00. Following the sale, the executive directly owned 505,721 shares of the company’s stock, valued at approximately $2,796,637.13. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new stake in Weave Communications during the fourth quarter worth about $26,000. Ameritas Investment Partners Inc. increased its position in shares of Weave Communications by 43.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,955 shares of the company’s stock valued at $50,000 after purchasing an additional 1,812 shares during the last quarter. Amundi raised its holdings in shares of 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 buying an additional 1,130 shares in the last quarter. AXQ Capital LP purchased a new position in shares of Weave Communications during the 3rd quarter valued at about $67,000. Finally, CWM LLC lifted its position in Weave Communications by 1,125.6% in the 4th quarter. CWM LLC now owns 9,033 shares of the company’s stock worth $69,000 after buying an additional 8,296 shares during the last quarter. Institutional investors own 86.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James Financial cut shares of Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Weave Communications in a research note on Monday, December 29th. Stifel Nicolaus cut 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, Piper Sandler decreased their price target on shares of Weave Communications from $12.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Weave Communications currently has an average rating of “Hold” and a consensus target price of $10.00.

Weave Communications Price Performance

Shares of NYSE WEAV traded down $0.16 during midday trading on Friday, hitting $4.37. 1,385,192 shares of the company’s stock were exchanged, compared to its average volume of 1,717,335. 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 business’s fifty day moving average price is $5.60 and its two-hundred day moving average price is $6.41. The company has a market cap of $343.31 million, a price-to-earnings ratio of -12.13 and a beta of 1.73. Weave Communications has a 12-month low of $4.24 and a 12-month high of $11.40.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $63.40 million during the quarter, compared to analyst estimates of $63.19 million. Weave Communications had a negative net margin of 11.74% and a negative return on equity of 33.06%. As a group, research analysts forecast that Weave Communications will post -0.33 EPS for the current fiscal year.

Weave Communications Company 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.