Weave Communications (NYSE:WEAV) Trading Down 4.8% – Here’s Why

Weave Communications, Inc. (NYSE:WEAV)’s stock price dropped 4.8% during trading on Tuesday . The company traded as low as $6.80 and last traded at $6.8050. Approximately 328,849 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,554,320 shares. The stock had previously closed at $7.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. 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’s stock. According to data from MarketBeat.com, Weave Communications currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Weave Communications Stock Performance

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 fifty day moving average price of $5.98 and a 200 day moving average price of $5.79. The stock has a market cap of $540.20 million, a P/E ratio of -21.92 and a beta of 1.68.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Weave Communications, Inc. will post -0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WEAV. Amundi raised its holdings in shares of Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after acquiring an additional 1,130 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Weave Communications by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock valued at $265,000 after purchasing an additional 1,457 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Weave Communications by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 68,070 shares of the company’s stock valued at $517,000 after purchasing an additional 2,009 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Weave Communications by 9.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 26,489 shares of the company’s stock worth $201,000 after purchasing an additional 2,354 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Weave Communications by 0.7% in the fourth quarter. Deutsche Bank AG now owns 353,591 shares of the company’s stock worth $2,684,000 after purchasing an additional 2,366 shares during the last quarter. 86.83% of the stock is currently 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.