Weave Communications (NYSE:WEAV) Shares Gap Down – Time to Sell?

Shares of Weave Communications, Inc. (NYSE:WEAV) gapped down before the market opened on Tuesday . The stock had previously closed at $7.21, but opened at $7.04. Weave Communications shares last traded at $7.2490, with a volume of 277,485 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus dropped their price target on shares of Weave Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Piper Sandler cut their target price on Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Citigroup lowered their price target on Weave Communications from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Weave Communications in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Weave Communications Price Performance

The company has a market cap of $567.67 million, a PE ratio of -16.92 and a beta of 1.72. 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 moving average price of $6.60 and a two-hundred day moving average price of $7.27.

Weave Communications (NYSE:WEAV) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $61.34 million during the quarter, compared to analysts’ expectations of $60.67 million. Weave Communications had a negative return on equity of 42.10% and a negative net margin of 14.32%. Sell-side analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Weave Communications

In other news, Director Tyler Newton sold 50,993 shares of Weave Communications stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $6.68, for a total transaction of $340,633.24. Following the sale, the director directly owned 50,992 shares of the company’s stock, valued at approximately $340,626.56. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erin Goodsell sold 9,615 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $6.89, for a total value of $66,247.35. Following the completion of the transaction, the insider owned 527,055 shares in the company, valued at approximately $3,631,408.95. This trade represents a 1.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.40% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

A number of institutional investors have recently made changes to their positions in WEAV. Ameritas Investment Partners Inc. boosted its stake 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 buying an additional 1,812 shares during the last quarter. Amundi boosted its stake 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 during the last quarter. AXQ Capital LP acquired a new position in Weave Communications during the 3rd quarter worth $67,000. Tower Research Capital LLC TRC grew 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 worth $72,000 after acquiring an additional 4,731 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Weave Communications in the 2nd quarter worth about $83,000. 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.