Weave Communications, Inc. (NYSE:WEAV – Get Rating) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 781,000 shares, a drop of 21.7% from the December 31st total of 997,800 shares. Based on an average daily trading volume, of 155,100 shares, the short-interest ratio is currently 5.0 days. Approximately 2.4% of the shares of the company are sold short.
Insider Buying and Selling at Weave Communications
In other Weave Communications news, CFO Alan Taylor sold 5,785 shares of the firm's stock in a transaction on Monday, November 14th. The stock was sold at an average price of $4.68, for a total value of $27,073.80. Following the completion of the sale, the chief financial officer now owns 287,202 shares of the company's stock, valued at $1,344,105.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 6,794 shares of company stock valued at $32,074. 41.86% of the stock is owned by company insiders.
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Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Weave Communications by 709.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 92,832 shares of the company's stock worth $469,000 after buying an additional 81,359 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Weave Communications by 472.4% during the 3rd quarter. California State Teachers Retirement System now owns 12,336 shares of the company's stock worth $62,000 after buying an additional 10,181 shares during the last quarter. BNP Paribas Arbitrage SNC acquired a new position in shares of Weave Communications during the 3rd quarter worth $57,000. State Street Corp raised its stake in Weave Communications by 59.3% in the 3rd quarter. State Street Corp now owns 280,127 shares of the company's stock valued at $1,415,000 after purchasing an additional 104,329 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Weave Communications by 58.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,439,683 shares of the company's stock valued at $7,270,000 after purchasing an additional 530,248 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.
Weave Communications Price Performance
Weave Communications stock traded up $0.07 during midday trading on Friday, reaching $5.38. The company's stock had a trading volume of 120,867 shares, compared to its average volume of 57,843. Weave Communications has a fifty-two week low of $2.91 and a fifty-two week high of $11.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.82 and a current ratio of 1.82. The stock's 50 day simple moving average is $4.55 and its 200 day simple moving average is $5.08. The firm has a market capitalization of $352.82 million, a PE ratio of -5.60 and a beta of 1.65.
Weave Communications (NYSE:WEAV – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. Weave Communications had a negative return on equity of 55.19% and a negative net margin of 40.02%. The company had revenue of $36.23 million during the quarter, compared to the consensus estimate of $35.17 million. On average, equities research analysts forecast that Weave Communications will post -0.81 earnings per share for the current year.
About Weave Communications
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Weave Communications, Inc provides a customer communications and engagement software platform in the United States and Canada. Its platform enables small and medium-sized businesses to maximize the value of their customer interactions and minimize the time and effort spent on manual or mundane tasks.
Further Reading
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