Weave Communications (NYSE:WEAV) Trading 5.4% Higher – What’s Next?

Weave Communications, Inc. (NYSE:WEAV) was up 5.4% during mid-day trading on Tuesday . The company traded as high as $7.09 and last traded at $7.0650. Approximately 260,765 shares were traded during trading, a decline of 84% from the average session volume of 1,583,109 shares. The stock had previously closed at $6.70.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Weave Communications currently has an average rating of “Hold” and a consensus price target of $10.00.

Weave Communications Stock Down 1.0%

The business’s 50 day moving average is $5.72 and its 200 day moving average is $5.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $536.70 million, a price-to-earnings ratio of -21.76 and a beta of 1.68.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Weave Communications had a negative return on equity of 26.46% and a negative net margin of 10.05%.The firm had revenue of $65.50 million for the quarter, compared to analysts’ expectations of $64.57 million. Equities analysts expect that Weave Communications, Inc. will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Weave Communications during the 4th quarter worth approximately $26,000. Optiver Holding B.V. boosted its holdings in shares of Weave Communications by 1,201.2% in the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after buying an additional 6,775 shares during the last quarter. Amundi grew its stake in shares of Weave Communications by 27.1% in the first quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after buying an additional 1,130 shares in the last quarter. CWM LLC grew its stake in shares of Weave Communications by 1,125.6% in the fourth quarter. CWM LLC now owns 9,033 shares of the company’s stock valued at $69,000 after buying an additional 8,296 shares in the last quarter. Finally, Caerus Investment Advisors LLC acquired a new position in Weave Communications during the first quarter worth $70,000. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.