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

Weave Communications, Inc. (NYSE:WEAV) was the recipient 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 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 reiterated a “strong-buy” rating and issued a $20.00 price objective (up from $17.00) on shares of Weave Communications in a report on Friday, February 21st.

Weave Communications Trading Up 0.6 %

Shares of NYSE:WEAV opened at $12.17 on Wednesday. The stock has a market capitalization of $885.26 million, a price-to-earnings ratio of -31.19 and a beta of 1.91. Weave Communications has a 1-year low of $8.10 and a 1-year high of $17.63. 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 company has a 50 day moving average price of $15.84 and a 200 day moving average price of $13.98.

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

Insiders Place Their Bets

In other news, Director Blake G. Modersitzki sold 74,756 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 directly owns 179,153 shares in the company, valued at $3,133,385.97. This trade represents a 29.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett T. White sold 54,778 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $15.86, for a total transaction of $868,779.08. Following the completion of the transaction, the chief executive officer now owns 1,928,364 shares of the company’s stock, valued at $30,583,853.04. This trade represents a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,042,208 shares of company stock worth $16,380,789. Insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP boosted its stake in Weave Communications by 38.4% in the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock worth $82,874,000 after purchasing an additional 1,444,828 shares during the period. Vanguard Group Inc. boosted its stake in Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock worth $72,220,000 after purchasing an additional 863,547 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Weave Communications by 202.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock worth $26,280,000 after purchasing an additional 1,105,728 shares during the period. Pathway Capital Management LP boosted its stake in Weave Communications by 136.3% in the 4th quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock worth $21,482,000 after purchasing an additional 778,413 shares during the period. Finally, AXA S.A. boosted its stake in Weave Communications by 0.7% in the 4th quarter. AXA S.A. now owns 1,294,281 shares of the company’s stock worth $20,605,000 after purchasing an additional 9,365 shares during the period. 86.83% of the stock is currently owned by institutional investors.

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.