Acuitas Investments LLC Boosts Stake in Weave Communications, Inc. (NYSE:WEAV)

Acuitas Investments LLC lifted its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 33.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,241 shares of the company’s stock after acquiring an additional 46,969 shares during the quarter. Acuitas Investments LLC owned approximately 0.27% of Weave Communications worth $2,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WEAV. Vanguard Group Inc. boosted its stake in Weave Communications by 37.9% in the third quarter. Vanguard Group Inc. now owns 2,942,793 shares of the company’s stock valued at $23,984,000 after acquiring an additional 808,248 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Weave Communications by 142.9% in the third quarter. Lord Abbett & CO. LLC now owns 1,042,961 shares of the company’s stock valued at $8,500,000 after acquiring an additional 613,649 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Weave Communications by 896.6% in the third quarter. Bank of New York Mellon Corp now owns 937,604 shares of the company’s stock valued at $7,641,000 after acquiring an additional 843,526 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Weave Communications by 9.0% in the third quarter. Acadian Asset Management LLC now owns 801,563 shares of the company’s stock valued at $6,529,000 after acquiring an additional 66,349 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Weave Communications by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 462,704 shares of the company’s stock valued at $5,307,000 after acquiring an additional 1,397 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WEAV has been the subject of several research reports. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective on shares of Weave Communications in a research note on Thursday, February 22nd. Raymond James upgraded shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Monday, February 26th. Finally, Stifel Nicolaus raised their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Weave Communications Stock Performance

WEAV traded up $0.39 on Friday, reaching $11.30. The stock had a trading volume of 35,700 shares, compared to its average volume of 399,975. The company has a market cap of $802.07 million, a P/E ratio of -24.24 and a beta of 2.24. The business’s 50-day moving average price is $11.74 and its two-hundred day moving average price is $10.66. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08. Weave Communications, Inc. has a 12-month low of $4.04 and a 12-month high of $13.80.

Weave Communications (NYSE:WEAV) last released its earnings results on Wednesday, February 21st. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $45.69 million during the quarter, compared to analysts’ expectations of $44.24 million. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. Sell-side analysts forecast that Weave Communications, Inc. will post -0.37 earnings per share for the current year.

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.