Weave Communications (NYSE:WEAV) Trading Down 4.8% – Should You Sell?

Weave Communications, Inc. (NYSE:WEAV)’s share price fell 4.8% during trading on Tuesday . The company traded as low as $6.80 and last traded at $6.8050. 328,849 shares traded hands during trading, a decline of 79% from the average session volume of 1,554,320 shares. The stock had previously closed at $7.15.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Three 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. Based on data from MarketBeat.com, Weave Communications has a consensus rating of “Hold” and a consensus target price of $10.00.

Weave Communications Price Performance

The stock has a market capitalization of $489.75 million, a price-to-earnings ratio of -19.85 and a beta of 1.68. The company has a fifty day simple moving average of $6.03 and a 200 day simple moving average of $5.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24.

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

Institutional Investors Weigh In On Weave Communications

A number of large investors have recently bought and sold shares of WEAV. Hilton Head Capital Partners LLC bought a new stake in Weave Communications during the fourth quarter worth $26,000. Amundi lifted its holdings in Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after acquiring an additional 1,130 shares during the period. Optiver Holding B.V. boosted its position in Weave Communications by 1,201.2% in the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock worth $34,000 after purchasing an additional 6,775 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Weave Communications by 119.7% in the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock worth $72,000 after purchasing an additional 4,731 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Weave Communications by 1,125.6% during the 4th quarter. CWM LLC now owns 9,033 shares of the company’s stock worth $69,000 after purchasing an additional 8,296 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Company Profile

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.