Weave Communications, Inc. (NYSE:WEAV) Sees Large Increase in Short Interest

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

Weave Communications Price Performance

Weave Communications stock traded down $0.74 during trading on Thursday, reaching $11.65. The company had a trading volume of 819,785 shares, compared to its average volume of 1,039,207. Weave Communications has a 1-year low of $8.10 and a 1-year high of $17.63. The firm's 50-day simple moving average is $15.69 and its 200 day simple moving average is $13.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market capitalization of $847.42 million, a PE ratio of -29.86 and a beta of 1.91.

Weave Communications (NYSE:WEAV - Get Free Report) 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 company had revenue of $54.17 million for the quarter, compared to analysts' expectations of $53.23 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. As a group, equities research analysts anticipate that Weave Communications will post -0.33 earnings per share for the current fiscal year.

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Insider Buying and Selling at Weave Communications

In related news, insider Branden Neish sold 7,111 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.95, for a total value of $113,420.45. Following the sale, the insider now directly owns 512,122 shares in the company, valued at approximately $8,168,345.90. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Blake G. Modersitzki sold 242,820 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $14.38, for a total transaction of $3,491,751.60. Following the sale, the director now directly owns 244,616 shares in the company, valued at approximately $3,517,578.08. The trade was a 49.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,042,208 shares of company stock worth $16,380,789. Insiders own 36.30% of the company's stock.

Hedge Funds Weigh In On Weave Communications

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new stake in Weave Communications during the fourth quarter worth approximately $34,000. Quarry LP acquired a new position in shares of Weave Communications during the third quarter valued at $45,000. Amundi bought a new position in Weave Communications during the 4th quarter valued at $66,000. Summit Investment Advisors Inc. raised its position in Weave Communications by 28.9% in the fourth 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. Finally, US Bancorp DE acquired a new stake in Weave Communications during the third quarter valued at approximately $107,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James reissued a "strong-buy" rating and issued a $20.00 target price (up previously from $17.00) on shares of Weave Communications in a research note on Friday, February 21st.

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.