Weave Communications (NYSE:WEAV) Sees Unusually-High Trading Volume – What’s Next?

Weave Communications, Inc. (NYSE:WEAV) saw unusually-strong trading volume on Wednesday. 2,588,041 shares traded hands during trading, an increase of 32% from the previous session’s volume of 1,960,453 shares. The stock last traded at $7.3950 and had previously closed at $7.39.

Analysts Set New Price Targets

WEAV has been the topic of a number of recent analyst reports. Piper Sandler lowered Weave Communications from an “overweight” rating to a “hold” rating and reduced their target price for the stock from $8.00 to $7.40 in a research note on Tuesday, August 18th. Weiss Ratings raised shares of Weave Communications from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. UBS Group reiterated an “accumulate” rating on shares of Weave Communications in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Weave Communications from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Loop Capital lowered shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price on the stock. in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.84.

Weave Communications Stock Up 0.1%

The firm has a market cap of $591.60 million, a PE ratio of -29.58 and a beta of 1.68. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $7.18 and its 200 day simple moving average is $6.30.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. The firm had revenue of $67.54 million during the quarter, compared to analysts’ expectations of $67.88 million. As a group, equities research analysts expect that Weave Communications, Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WEAV. Legal & General Group Plc acquired a new position in shares of Weave Communications during the second quarter worth $38,000. Sequoia Financial Advisors LLC increased its position in Weave Communications by 26.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,662 shares of the company’s stock valued at $196,000 after buying an additional 6,768 shares in the last quarter. Optiver Holding B.V. raised its stake 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 valued at $34,000 after buying an additional 6,775 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Weave Communications by 36.8% in the first quarter. PNC Financial Services Group Inc. now owns 27,940 shares of the company’s stock valued at $129,000 after buying an additional 7,517 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Weave Communications in the second quarter worth about $54,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

About Weave Communications

Weave Communications, Inc provides cloud-based customer communication and payments software designed primarily for small and midsized healthcare practices. Its platform helps businesses manage interactions with patients and customers through a unified system rather than relying on separate phone, messaging, scheduling and payment tools.

Weave’s products and services include business phone systems, two-way texting, email communications, appointment scheduling, automated reminders, online reviews, payment processing and customer relationship management tools.