Weave Communications (NYSE:WEAV) Shares Up 5.4% – Here’s Why

Weave Communications, Inc. (NYSE:WEAV) shares shot up 5.4% during mid-day trading on Tuesday . The company traded as high as $7.09 and last traded at $7.0650. 260,765 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,583,109 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Weave Communications in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

Weave Communications Stock Up 5.1%

The firm has a market cap of $560.57 million, a P/E ratio of -22.73 and a beta of 1.68. The firm’s 50-day moving average price is $5.64 and its 200 day moving average price is $5.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24.

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

Institutional Investors Weigh In On Weave Communications

Institutional investors and hedge funds have recently made changes to their positions in the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Weave Communications during the 4th quarter valued at approximately $26,000. Amundi boosted its holdings in Weave Communications by 27.1% in the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after purchasing an additional 1,130 shares during the period. Optiver Holding B.V. increased its stake in Weave Communications by 1,201.2% during 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 last quarter. Tower Research Capital LLC TRC increased its stake in Weave Communications by 119.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock valued at $72,000 after purchasing an additional 4,731 shares during the last quarter. Finally, CWM LLC increased its stake in Weave Communications by 1,125.6% during the fourth quarter. CWM LLC now owns 9,033 shares of the company’s stock valued at $69,000 after purchasing an additional 8,296 shares during the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

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.