369,969 Shares in Weave Communications, Inc. $WEAV Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Weave Communications during Q1, buying 369,969 shares valued at about $1.7 million. The stake represented 0.47% of the company at the end of the reporting period.
• Institutional interest in WEAV remains high, with 86.83% of the stock owned by hedge funds and other institutions. Several firms, including Huber Capital Management and ArrowMark Colorado Holdings, also recently added or initiated positions.
• Weave Communications reported better-than-expected quarterly results, posting EPS of $0.03 versus the $0.02 consensus and revenue of $65.5 million versus expectations of $64.57 million. Despite that, analysts currently rate the stock a Hold on average with a $10 price target.

Y Intercept Hong Kong Ltd acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 369,969 shares of the company's stock, valued at approximately $1,709,000. Y Intercept Hong Kong Ltd owned 0.47% of Weave Communications at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WEAV. Huber Capital Management LLC increased its position in shares of Weave Communications by 168.2% in the third quarter. Huber Capital Management LLC now owns 599,048 shares of the company's stock worth $4,002,000 after purchasing an additional 375,720 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in Weave Communications during the third quarter worth about $7,531,000. Meros Investment Management LP bought a new stake in Weave Communications during the fourth quarter worth about $4,341,000. Irenic Capital Management LP acquired a new stake in Weave Communications during the fourth quarter worth about $1,721,000. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in Weave Communications by 22.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 66,715 shares of the company's stock worth $446,000 after buying an additional 12,126 shares in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Weave Communications in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Weave Communications currently has an average rating of "Hold" and a consensus price target of $10.00.

Weave Communications Trading Up 0.4%

Shares of WEAV stock opened at $6.78 on Friday. Weave Communications, Inc. has a fifty-two week low of $4.24 and a fifty-two week high of $8.72. The stock's fifty day moving average price is $5.75 and its two-hundred day moving average price is $5.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $539.09 million, a PE ratio of -21.85 and a beta of 1.68.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $65.50 million during the quarter, compared to analysts' expectations of $64.57 million. Equities analysts predict that Weave Communications, Inc. will post -0.27 EPS for the current fiscal year.

Weave Communications 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.

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