Meros Investment Management LP acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 554,836 shares of the company's stock, valued at approximately $3,323,468. Meros Investment Management LP owned approximately 0.69% of Weave Communications at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of Weave Communications in the 2nd quarter worth approximately $125,000. Legal & General Group Plc acquired a new stake in Weave Communications during the 2nd quarter worth approximately $38,000. The Manufacturers Life Insurance Company bought a new stake in Weave Communications during the 2nd quarter valued at $111,000. Sanctuary Advisors LLC purchased a new position in Weave Communications in the second quarter valued at approximately $70,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Weave Communications during the second quarter valued at approximately $404,000. Institutional investors and hedge funds own 86.83% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on WEAV. B. Riley Financial lowered shares of Weave Communications from a "buy" rating to a "hold" rating and reduced their target price for the stock from $8.25 to $7.40 in a report on Wednesday, August 19th. Wall Street Zen lowered Weave Communications from a "buy" rating to a "hold" rating in a report on Sunday, August 23rd. Weiss Ratings reissued a "sell (e+)" rating on shares of Weave Communications in a report on Wednesday, July 8th. Raymond James Financial downgraded shares of Weave Communications from an "outperform" rating to a "market perform" rating in a research note on Monday. Finally, Loop Capital downgraded Weave Communications from a "buy" rating to a "hold" rating and set a $7.40 price objective on the stock. in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.84.
Get Our Latest Report on WEAV
Weave Communications Price Performance
Shares of Weave Communications stock remained flat at $7.30 on Friday. 1,331,259 shares of the stock were exchanged, compared to its average volume of 1,987,772. Weave Communications, Inc. has a 1 year low of $4.24 and a 1 year high of $8.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. The stock has a market cap of $584 million, a price-to-earnings ratio of -29.20 and a beta of 1.67. The business has a 50 day moving average of $6.46 and a 200 day moving average of $5.71.
Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. The firm had revenue of $67.54 million for the quarter, compared to analysts' expectations of $67.88 million. As a group, analysts anticipate that Weave Communications, Inc. will post -0.22 earnings per share for the current year.
About Weave Communications
(
Free Report)
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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