Meros Investment Management LP Acquires Shares of 554,836 Weave Communications, Inc. $WEAV

Meros Investment Management LP acquired a new position in Weave Communications, Inc. (NYSE:WEAV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 554,836 shares of the company’s stock, valued at approximately $3,323,468,000. Meros Investment Management LP owned approximately 0.69% of Weave Communications at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Weave Communications during the fourth quarter valued at about $26,000. Optiver Holding B.V. boosted its position in Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after acquiring an additional 6,775 shares in the last quarter. Legal & General Group Plc bought a new stake in Weave Communications during the 2nd quarter valued at approximately $38,000. Amundi grew its holdings in shares of Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after acquiring an additional 1,130 shares during the period. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Weave Communications during the 2nd quarter worth approximately $60,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEAV has been the subject of a number of research analyst reports. Loop Capital cut Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price for the company. in a research note on Wednesday, August 19th. Raymond James Financial cut Weave Communications from an “outperform” rating to a “market perform” rating in a research note on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. Wall Street Zen lowered Weave Communications from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Piper Sandler cut shares of Weave Communications from an “overweight” rating to a “hold” rating and dropped their target price for the company from $8.00 to $7.40 in a report on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.84.

Weave Communications Trading Up 0.1%

NYSE WEAV opened at $7.29 on Wednesday. Weave Communications, Inc. has a 12 month low of $4.24 and a 12 month high of $8.00. The stock has a market cap of $583.60 million, a P/E ratio of -29.18 and a beta of 1.67. The stock’s fifty day moving average price is $6.38 and its 200-day moving average price is $5.69. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

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

Weave Communications Company Profile

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.