Short Interest in Weave Communications, Inc. (NYSE:WEAV) Rises By 53.3%

Weave Communications, Inc. (NYSE:WEAV) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 3,680,000 shares, a growth of 53.3% from the January 31st total of 2,400,000 shares. Approximately 6.0% of the company’s stock are short sold. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Separately, Raymond James reaffirmed a “strong-buy” rating and set a $20.00 price objective (up previously from $17.00) on shares of Weave Communications in a research report on Friday, February 21st.

Insider Transactions at Weave Communications

In other news, Director Blake G. Modersitzki sold 74,756 shares of Weave Communications stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the transaction, the director now owns 179,153 shares in the company, valued at approximately $3,133,385.97. This trade represents a 29.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alan Taylor sold 4,182 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $16.03, for a total value of $67,037.46. Following the completion of the sale, the chief financial officer now owns 283,516 shares of the company’s stock, valued at $4,544,761.48. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,162,759 shares of company stock valued at $18,056,448. Insiders own 36.30% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

Several hedge funds have recently made changes to their positions in WEAV. Aquatic Capital Management LLC bought a new stake in Weave Communications during the fourth quarter worth approximately $34,000. Quarry LP acquired a new stake in shares of Weave Communications during the 3rd quarter valued at $45,000. Summit Investment Advisors Inc. boosted its stake in shares of Weave Communications by 28.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after acquiring an additional 928 shares in the last quarter. Amundi acquired a new position in shares of Weave Communications in the 4th quarter worth $66,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Weave Communications during the fourth quarter worth $131,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Price Performance

WEAV traded up $0.08 on Tuesday, reaching $12.17. The company had a trading volume of 1,177,169 shares, compared to its average volume of 1,053,065. Weave Communications has a one year low of $8.10 and a one year high of $17.63. The company has a market capitalization of $885.26 million, a P/E ratio of -31.19 and a beta of 1.91. The company has a fifty day moving average of $15.84 and a 200-day moving average of $13.98. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $54.17 million for the quarter, compared to the consensus estimate of $53.23 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. As a group, equities research analysts anticipate that Weave Communications will post -0.33 earnings per share for the current year.

About Weave Communications

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.