Weave Communications (NYSE:WEAV) Hits New 52-Week Low - Time to Sell?

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) shares reached a new 52-week low during trading on Saturday . The stock traded as low as $7.71 and last traded at $7.74, with a volume of 765437 shares. The stock had previously closed at $8.41.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler raised their price objective on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Stifel Nicolaus cut their target price on Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Raymond James Financial cut their target price on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $16.10.

Weave Communications Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $553.34 million, a price-to-earnings ratio of -17.95 and a beta of 1.76. The firm has a fifty day simple moving average of $9.32 and a two-hundred day simple moving average of $11.87.

Weave Communications (NYSE:WEAV - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. The firm had revenue of $55.81 million for the quarter, compared to analyst estimates of $54.72 million. On average, analysts expect that Weave Communications, Inc. will post -0.33 EPS for the current year.

Insider Activity

In other Weave Communications news, CEO Brett T. White sold 53,111 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $456,223.49. Following the completion of the transaction, the chief executive officer directly owned 2,004,136 shares of the company's stock, valued at approximately $17,215,528.24. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Marcus Bertilson sold 11,409 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total value of $97,318.77. Following the completion of the transaction, the chief operating officer directly owned 352,093 shares of the company's stock, valued at $3,003,353.29. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,577 shares of company stock valued at $1,499,638. 18.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wasatch Advisors LP increased its position in shares of Weave Communications by 38.4% in the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after buying an additional 1,444,828 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Weave Communications by 4.3% during the first quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company's stock worth $52,471,000 after purchasing an additional 194,936 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Weave Communications by 202.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company's stock worth $26,280,000 after purchasing an additional 1,105,728 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Weave Communications by 26.2% during the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company's stock worth $15,382,000 after purchasing an additional 287,785 shares in the last quarter. Finally, AXA S.A. increased its position in shares of Weave Communications by 0.7% during the fourth quarter. AXA S.A. now owns 1,294,281 shares of the company's stock worth $20,605,000 after purchasing an additional 9,365 shares in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Weave Communications Company Profile

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.