Weave Communications (NYSE:WEAV) Shares Gap Up to $10.00

Weave Communications, Inc. (NYSE:WEAV) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.00, but opened at $11.00. Weave Communications shares last traded at $11.70, with a volume of 141,901 shares.

Weave Communications Stock Up 7.9 %

The firm has a market capitalization of $767.38 million, a PE ratio of -25.09 and a beta of 2.07. The company has a fifty day moving average price of $9.16 and a 200-day moving average price of $10.61. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.75 and a current ratio of 1.75.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The firm had revenue of $47.17 million for the quarter, compared to analysts’ expectations of $45.89 million. Weave Communications had a negative return on equity of 31.74% and a negative net margin of 17.06%. During the same period last year, the company earned ($0.12) earnings per share. As a group, analysts expect that Weave Communications, Inc. will post -0.39 earnings per share for the current year.

Institutional Trading of Weave Communications

Several hedge funds and other institutional investors have recently bought and sold shares of WEAV. Principal Financial Group Inc. grew its position in Weave Communications by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 37,558 shares of the company’s stock valued at $339,000 after acquiring an additional 4,747 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after acquiring an additional 3,228 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Weave Communications in the 2nd quarter valued at $145,000. Bailard Inc. bought a new position in Weave Communications in the 2nd quarter valued at $851,000. Finally, Bank of New York Mellon Corp grew its position in Weave Communications by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 112,804 shares of the company’s stock valued at $1,017,000 after acquiring an additional 26,953 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.