Weave Communications (NYSE:WEAV) Shares Down 2.6%

Shares of Weave Communications, Inc. (NYSE:WEAV) traded down 2.6% during mid-day trading on Thursday . The company traded as low as $10.56 and last traded at $10.61. 202,940 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 407,110 shares. The stock had previously closed at $10.89.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their target price on shares of Weave Communications from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st.

Weave Communications Stock Performance

The stock’s fifty day moving average is $9.60 and its 200-day moving average is $10.52. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.09. The stock has a market cap of $791.35 million, a price-to-earnings ratio of -25.63 and a beta of 2.08.

Hedge Funds Weigh In On Weave Communications

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Weave Communications in the fourth quarter valued at approximately $152,000. Federated Hermes Inc. raised its holdings in shares of 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 purchasing an additional 1,397 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new position in Weave Communications during the fourth quarter worth $185,000. New York State Common Retirement Fund raised its holdings in shares of Weave Communications by 29.2% in the 4th quarter. New York State Common Retirement Fund now owns 10,683 shares of the company’s stock valued at $123,000 after purchasing an additional 2,415 shares during the period. Finally, Acuitas Investments LLC lifted its position in shares of Weave Communications by 33.7% in the fourth quarter. Acuitas Investments LLC now owns 186,241 shares of the company’s stock valued at $2,136,000 after buying an additional 46,969 shares during the last quarter. 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.