Weave Communications (NYSE:WEAV) Sees Large Volume Increase - What's Next?

Key Points

• Analyst sentiment weakened: Several brokerages downgraded Weave Communications to “Hold” or “Market Perform,” bringing the consensus rating to “Hold” with an average price target of $7.84.
• Shares traded near $7.30, while volume reached 1.12 million shares—down 42% from the prior session. The stock remains above its 50-day and 200-day moving averages of $6.34 and $5.69, respectively.
• Institutional investors and hedge funds own 86.83% of the company, with several firms recently initiating or expanding positions. In its latest quarter, Weave reported adjusted EPS of $0.04 in line with estimates, though revenue of $67.54 million slightly missed expectations.

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) shares saw an uptick in trading volume on Tuesday . 1,120,274 shares changed hands during mid-day trading, a decline of 42% from the previous session's volume of 1,922,443 shares.The stock last traded at $7.2950 and had previously closed at $7.29.

Analyst Ratings Changes

Several brokerages have issued reports on WEAV. Raymond James Financial downgraded Weave Communications from an "outperform" rating to a "market perform" rating in a research report on Monday. Wall Street Zen cut Weave Communications from a "buy" rating to a "hold" rating in a report on Sunday. B. Riley Financial lowered shares of Weave Communications from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $8.25 to $7.40 in a report on Wednesday, August 19th. Piper Sandler downgraded shares of Weave Communications from an "overweight" rating to a "hold" rating and dropped their target price for the stock from $8.00 to $7.40 in a research note on Tuesday, August 18th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Weave Communications in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Weave Communications presently has an average rating of "Hold" and an average target price of $7.84.

Weave Communications Stock Performance

The firm has a fifty day moving average of $6.34 and a 200-day moving average of $5.69. The firm has a market cap of $583.60 million, a P/E ratio of -29.18 and a beta of 1.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%.The firm had revenue of $67.54 million during the quarter, compared to analyst estimates of $67.88 million. Research analysts predict that Weave Communications, Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

Several large investors have recently bought and sold shares of WEAV. Engine Capital Management LP acquired a new position in shares of Weave Communications in the 1st quarter valued at $4,858,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Weave Communications during the first quarter worth $1,709,000. Pale Fire Capital SE acquired a new stake in shares of Weave Communications during the first quarter worth $6,897,000. Arrowstreet Capital Limited Partnership increased its holdings in Weave Communications by 897.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 364,240 shares of the company's stock valued at $1,683,000 after purchasing an additional 327,721 shares during the last quarter. Finally, Harber Asset Management LLC bought a new stake in Weave Communications in the second quarter valued at about $4,706,000. 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.

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