Short Interest in Weave Communications, Inc. (NYSE:WEAV) Decreases By 15.8%

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 3,030,000 shares, a decrease of 15.8% from the March 31st total of 3,600,000 shares. Based on an average daily volume of 985,100 shares, the short-interest ratio is presently 3.1 days. Approximately 4.8% of the company's stock are short sold.

Weave Communications Stock Performance

NYSE WEAV traded up $0.44 during trading hours on Thursday, reaching $10.57. The company's stock had a trading volume of 555,794 shares, compared to its average volume of 723,148. The stock has a market cap of $791.69 million, a PE ratio of -27.10 and a beta of 1.97. The business has a 50-day simple moving average of $10.59 and a 200 day simple moving average of $13.52. Weave Communications has a 52 week low of $8.18 and a 52 week high of $17.63. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). The company had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. Equities research analysts predict that Weave Communications will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WEAV has been the subject of several research analyst reports. Raymond James reduced their target price on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Piper Sandler raised their price objective on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Stifel Nicolaus cut their target price on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $16.10.

Insider Activity at Weave Communications

In other news, CFO Alan Taylor sold 31,262 shares of Weave Communications stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $11.16, for a total transaction of $348,883.92. Following the sale, the chief financial officer now owns 247,484 shares in the company, valued at $2,761,921.44. This trade represents a 11.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Blake G. Modersitzki sold 5,485 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $17.45, for a total transaction of $95,713.25. Following the completion of the transaction, the director now owns 188,441 shares of the company's stock, valued at $3,288,295.45. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 449,265 shares of company stock worth $5,781,607. Corporate insiders own 18.40% of the company's stock.

Institutional Investors Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new position in shares of Weave Communications during the 4th quarter valued at $34,000. a16z Perennial Management L.P. bought a new stake in Weave Communications in the first quarter worth about $36,000. Summit Investment Advisors Inc. lifted its holdings in Weave Communications by 28.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock valued at $66,000 after acquiring an additional 928 shares during the last quarter. Amundi bought a new position in shares of Weave Communications during the 4th quarter valued at about $66,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Weave Communications in the 4th quarter worth approximately $131,000. Institutional investors own 86.83% of the company's stock.

About Weave Communications

Weave Communications, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.