Weave Communications (NYSE:WEAV) Sets New 52-Week Low - Here's What Happened

Key Points

• Weave Communications' stock reached a new 52-week low of $7.24, with recent trading volumes of 328,615 shares.
• Despite the low price, analysts have mixed ratings for the stock, with price target adjustments ranging from $15.00 to $17.00 and an average target of $16.10.
• Insiders sold a total of 86,294 shares in the past ninety days, indicating potential concerns about the company's current performance.

Weave Communications, Inc. (NYSE:WEAV - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The company traded as low as $7.24 and last traded at $7.33, with a volume of 328615 shares. The stock had previously closed at $7.52.

Analyst Upgrades and Downgrades

WEAV has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Raymond James Financial decreased their target price on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus decreased their target price on Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $16.10.

Weave Communications Trading Down 3.1%

The firm has a market capitalization of $547.69 million, a price-to-earnings ratio of -17.77 and a beta of 1.76. The business has a 50-day moving average of $8.64 and a two-hundred day moving average of $11.22. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10.

Weave Communications (NYSE:WEAV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.10) earnings per share for the quarter. Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. Research analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Weave Communications news, COO Marcus Bertilson sold 11,409 shares of Weave Communications stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total transaction of $97,318.77. Following the sale, the chief operating officer directly owned 352,093 shares of the company's stock, valued at approximately $3,003,353.29. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erin Goodsell sold 7,472 shares of Weave Communications stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.59, for a total value of $64,184.48. Following the sale, the insider directly owned 584,657 shares in the company, valued at $5,022,203.63. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,294 shares of company stock valued at $739,723 over the last ninety days. Company insiders own 18.40% of the company's stock.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. Gagnon Securities LLC boosted its holdings in Weave Communications by 7.7% during the second quarter. Gagnon Securities LLC now owns 45,214 shares of the company's stock valued at $376,000 after purchasing an additional 3,222 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Weave Communications in the second quarter valued at approximately $83,000. KLP Kapitalforvaltning AS raised its stake in shares of Weave Communications by 51.2% in the second quarter. KLP Kapitalforvaltning AS now owns 12,400 shares of the company's stock valued at $103,000 after acquiring an additional 4,200 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Weave Communications in the second quarter valued at approximately $402,000. Finally, Avanza Fonder AB raised its stake in shares of Weave Communications by 13.8% in the second quarter. Avanza Fonder AB now owns 14,971 shares of the company's stock valued at $125,000 after acquiring an additional 1,819 shares during 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.

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