Weave Communications, Inc. (NYSE:WEAV) Short Interest Update

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

Weave Communications Price Performance

Weave Communications stock traded down $0.12 during mid-day trading on Monday, reaching $10.47. 260,052 shares of the company were exchanged, compared to its average volume of 396,807. The company has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $10.25. Weave Communications has a 12 month low of $6.67 and a 12 month high of $13.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market cap of $744.66 million, a PE ratio of -24.33 and a beta of 2.09.

Analyst Ratings Changes

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new position in Weave Communications in the fourth quarter worth approximately $77,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Weave Communications by 48.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after buying an additional 3,228 shares during the last quarter. Private Management Group Inc. bought a new position in shares of Weave Communications in the second quarter worth $90,000. New York State Common Retirement Fund boosted its stake in Weave Communications by 29.2% during the fourth quarter. New York State Common Retirement Fund now owns 10,683 shares of the company’s stock valued at $123,000 after buying an additional 2,415 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new stake in Weave Communications during the second quarter valued at $98,000. 86.83% of the stock is owned by institutional investors and hedge funds.

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.