Weave Communications (NYSE:WEAV) Shares Gap Down to $8.94

Shares of Weave Communications, Inc. (NYSE:WEAV) gapped down before the market opened on Tuesday . The stock had previously closed at $8.94, but opened at $8.59. Weave Communications shares last traded at $8.59, with a volume of 3,863 shares changing hands.

Weave Communications Price Performance

The stock’s 50-day moving average price is $9.24 and its 200-day moving average price is $10.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.75 and a current ratio of 1.75.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). Weave Communications had a negative net margin of 17.06% and a negative return on equity of 31.74%. The company had revenue of $47.17 million for the quarter, compared to analyst estimates of $45.89 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. On average, analysts forecast that Weave Communications, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its position in shares of Weave Communications by 6.6% during the 1st quarter. California State Teachers Retirement System now owns 34,685 shares of the company’s stock worth $398,000 after purchasing an additional 2,152 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Weave Communications during the 1st quarter worth approximately $1,816,000. Janus Henderson Group PLC acquired a new position in shares of Weave Communications during the 1st quarter worth approximately $328,000. Silvercrest Asset Management Group LLC raised its position in shares of Weave Communications by 39.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 505,525 shares of the company’s stock worth $5,803,000 after purchasing an additional 143,382 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Weave Communications during the 1st quarter worth approximately $196,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Company Profile

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.