Weave Communications, Inc. (NYSE:WEAV) Sees Large Decline in Short Interest

Weave Communications, Inc. (NYSE:WEAV) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 462,700 shares, a decrease of 26.7% from the August 15th total of 631,400 shares. Based on an average daily volume of 345,700 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Insider Transactions at Weave Communications

In related news, COO Marcus Bertilson sold 15,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $10.67, for a total transaction of $160,050.00. Following the transaction, the chief operating officer now owns 337,682 shares of the company’s stock, valued at $3,603,066.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

A number of large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its position in Weave Communications by 5.4% during the second quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after buying an additional 896 shares during the period. Algert Global LLC lifted its position in Weave Communications by 2.6% during the second quarter. Algert Global LLC now owns 181,768 shares of the company’s stock worth $1,640,000 after buying an additional 4,659 shares during the period. The Manufacturers Life Insurance Company lifted its position in Weave Communications by 26.3% during the second quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after buying an additional 3,315 shares during the period. Dark Forest Capital Management LP purchased a new position in Weave Communications during the second quarter worth about $134,000. Finally, AQR Capital Management LLC lifted its position in Weave Communications by 3.8% during the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after buying an additional 2,516 shares during the period. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of WEAV traded up $0.24 during trading hours on Friday, reaching $10.59. 257,968 shares of the company traded hands, compared to its average volume of 293,676. 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 capitalization of $753.19 million, a PE ratio of -24.63 and a beta of 2.09. Weave Communications has a fifty-two week low of $6.67 and a fifty-two week high of $13.80. The stock has a fifty day simple moving average of $10.39 and a 200 day simple moving average of $10.25.

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.