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

Weave Communications, Inc. (NYSE:WEAV - Get Free Report)'s stock price reached a new 52-week low on Friday . The stock traded as low as $8.50 and last traded at $8.53, with a volume of 659890 shares traded. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler lifted their target price on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their target price 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. Finally, Raymond James decreased their target price 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. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $16.10.

Weave Communications Trading Up 1.3%

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $9.91 and a 200 day simple moving average of $12.79. The firm has a market cap of $649.95 million, a PE ratio of -22.17 and a beta of 1.86.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.12). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The company had revenue of $55.81 million during the quarter, compared to analysts' expectations of $54.72 million. As a group, sell-side analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Weave Communications

In other Weave Communications news, insider Branden Neish sold 25,510 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total value of $289,028.30. Following the completion of the sale, the insider now directly owns 460,908 shares of the company's stock, valued at $5,222,087.64. This trade represents a 5.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett T. White sold 54,051 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $552,941.73. Following the sale, the chief executive officer now directly owns 2,086,384 shares of the company's stock, valued at $21,343,708.32. The trade was a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,292 shares of company stock valued at $2,286,804. 18.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Weave Communications

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new position in Weave Communications during the 4th quarter valued at about $34,000. Summit Securities Group LLC purchased a new position in Weave Communications during the 1st quarter valued at about $29,000. a16z Perennial Management L.P. purchased a new position in Weave Communications during the 1st quarter valued at about $36,000. Summit Investment Advisors Inc. boosted its stake in shares of 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 buying an additional 928 shares during the period. Finally, Amundi purchased a new position in shares of Weave Communications in the 4th quarter valued at about $66,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

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.