Huber Capital Management LLC Has $6.74 Million Stake in Weave Communications, Inc. $WEAV

Huber Capital Management LLC lifted its position in Weave Communications, Inc. (NYSE:WEAV) by 48.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 887,472 shares of the company’s stock after acquiring an additional 288,424 shares during the period. Huber Capital Management LLC’s holdings in Weave Communications were worth $6,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Amundi raised 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 purchasing an additional 1,130 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Weave Communications by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock worth $265,000 after acquiring an additional 1,457 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Weave Communications by 9.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 26,489 shares of the company’s stock worth $201,000 after acquiring an additional 2,354 shares in the last quarter. Deutsche Bank AG raised its stake in Weave Communications by 0.7% during the fourth quarter. Deutsche Bank AG now owns 353,591 shares of the company’s stock worth $2,684,000 after acquiring an additional 2,366 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Weave Communications by 17.7% during the fourth quarter. ProShare Advisors LLC now owns 18,614 shares of the company’s stock worth $141,000 after acquiring an additional 2,802 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WEAV shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Weave Communications in a research note on Friday, March 27th. Stifel Nicolaus dropped their price objective on Weave Communications from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Piper Sandler dropped their price objective on Weave Communications from $12.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.00.

Weave Communications Price Performance

Shares of WEAV stock opened at $5.51 on Friday. The stock’s fifty day moving average is $5.42 and its 200-day moving average is $5.87. 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 capitalization of $438.03 million, a PE ratio of -17.76 and a beta of 1.69. Weave Communications, Inc. has a 52 week low of $4.24 and a 52 week high of $9.10.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $65.50 million for the quarter, compared to analysts’ expectations 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 expect that Weave Communications, Inc. will post -0.27 EPS for the current fiscal year.

Weave Communications 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.