Meros Investment Management LP Acquires Shares of 571,883 Weave Communications, Inc. $WEAV

Meros Investment Management LP acquired a new stake in shares of Weave Communications, Inc. (NYSE:WEAV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 571,883 shares of the company’s stock, valued at approximately $4,341,000. Weave Communications makes up 1.7% of Meros Investment Management LP’s investment portfolio, making the stock its 29th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new position in Weave Communications during the fourth quarter valued at approximately $26,000. Amundi increased its holdings in shares of Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after buying an additional 1,130 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Weave Communications by 119.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock worth $72,000 after buying an additional 4,731 shares in the last quarter. CWM LLC increased its holdings in shares of Weave Communications by 1,125.6% during the fourth quarter. CWM LLC now owns 9,033 shares of the company’s stock worth $69,000 after buying an additional 8,296 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Weave Communications during the third quarter worth $67,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Stock Performance

NYSE WEAV opened at $5.45 on Tuesday. The company has a market capitalization of $433.26 million, a price-to-earnings ratio of -17.56 and a beta of 1.69. Weave Communications, Inc. has a twelve month low of $4.24 and a twelve month high of $9.10. The stock has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $5.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.03 earnings per share for the quarter, beating 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 return on equity of 26.46% and a negative net margin of 10.05%. Sell-side analysts expect that Weave Communications, Inc. will post -0.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Weave Communications in a report on Friday, March 27th. Finally, Piper Sandler decreased their price objective on Weave Communications from $12.00 to $8.00 and set an “overweight” rating for the company 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.