Weave Communications (NYSE:WEAV) Hits New 1-Year Low - Should You Sell?

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) hit 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 trading hands. The stock had previously closed at $8.41.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WEAV. Piper Sandler increased their price target on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Raymond James Financial reduced their price target on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus reduced their price target on Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $16.10.

Weave Communications Stock Down 8.0%

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $9.32 and a 200-day simple moving average of $11.93. The stock has a market cap of $581.52 million, a P/E ratio of -18.87 and a beta of 1.76.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). The business had revenue of $55.81 million during the quarter, compared to the consensus estimate of $54.72 million. Weave Communications had a negative net margin of 14.07% and a negative return on equity of 31.08%. On average, equities research analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Weave Communications

In other news, insider Erin Goodsell sold 7,472 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.59, for a total transaction of $64,184.48. Following the transaction, the insider owned 584,657 shares in the company, valued at approximately $5,022,203.63. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Marcus Bertilson sold 11,409 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $97,318.77. Following the transaction, the chief operating officer owned 352,093 shares in the company, valued at approximately $3,003,353.29. This trade represents a 3.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,577 shares of company stock valued at $1,499,638. Company insiders own 18.40% of the company's stock.

Hedge Funds Weigh In On Weave Communications

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Weave Communications by 18.0% during the 4th quarter. Bank of New York Mellon Corp now owns 99,364 shares of the company's stock valued at $1,582,000 after acquiring an additional 15,171 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Weave Communications by 8.4% during the 4th quarter. US Bancorp DE now owns 9,053 shares of the company's stock valued at $144,000 after acquiring an additional 703 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Weave Communications by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,330 shares of the company's stock valued at $7,392,000 after acquiring an additional 29,231 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Weave Communications during the 4th quarter valued at $14,984,000. Finally, Amundi acquired a new position in Weave Communications during the 4th quarter worth about $66,000. 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.