Meros Investment Management LP Acquires New Shares in Weave Communications, Inc. $WEAV

Meros Investment Management LP acquired a new position in Weave Communications, Inc. (NYSE:WEAV) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 554,836 shares of the company’s stock, valued at approximately $3,323,468,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Weave Communications in the second quarter worth approximately $31,807,000. Gumshoe Capital Management LLC bought a new position in shares of Weave Communications during the 4th quarter valued at $22,705,000. Pale Fire Capital SE bought a new stake in shares of Weave Communications in the first quarter worth $6,897,000. Disciplined Growth Investors Inc. MN bought a new stake in shares of Weave Communications in the third quarter worth $8,453,000. Finally, Engine Capital Management LP purchased a new stake in Weave Communications during the first quarter valued at $4,858,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of Weave Communications stock opened at $7.29 on Wednesday. The stock’s 50-day simple moving average is $6.38 and its 200-day simple moving average is $5.69. Weave Communications, Inc. has a 52 week low of $4.24 and a 52 week high of $8.00. The company has a market capitalization of $583.60 million, a price-to-earnings ratio of -29.18 and a beta of 1.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last posted its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. The company had revenue of $67.54 million during the quarter, compared to analysts’ expectations of $67.88 million. As a group, analysts expect that Weave Communications, Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WEAV. Raymond James Financial cut Weave Communications from an “outperform” rating to a “market perform” rating in a research report on Monday. UBS Group reaffirmed an “accumulate” rating on shares of Weave Communications in a research report on Tuesday, August 18th. Wall Street Zen cut shares of Weave Communications from a “buy” rating to a “hold” rating in a research note on Sunday. B. Riley Financial downgraded shares of Weave Communications from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.25 to $7.40 in a report on Wednesday, August 19th. Finally, Loop Capital lowered shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price for the company. in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Weave Communications presently has a consensus rating of “Hold” and an average target price of $7.84.

About Weave Communications

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.