There was a sizeable reduction in the number of short positions held in Weave Communications, Inc. during December (NYSE: WEAV). The number of borrowed shares dropped to 652,500 as of December 15, representing a decrease of 29.3% when compared to the 922,800 shares borrowed during the previous month. The current short-interest ratio is 3.3 days, which can be deduced from the fact that an average daily trading volume of 196,300 shares is taking place. This is why the short-interest ratio is currently at this value. There is a short position on 2.0% of the total number of shares outstanding in the company.
As a result of recent occurrences, a significant number of hedge funds have recently adapted their strategy regarding the market. The Bank of New York Mellon Corporation increased the percentage of Weave Communications stock owned by 709.1 percent during the third quarter. The Bank of New York Mellon Corporation currently owns 92,832 shares, which have a value of $469,000. This objective was accomplished during the most recent quarter by purchasing 81,359 additional company shares. The California State Teachers Retirement System increased the amount of Weave Communications stock in which it is invested by 472.4% during the third quarter. The California State Teachers Retirement System now has 12,336 shares following the purchase of an additional 10,181 shares during the most recent quarter. The value of the California State Teachers Retirement System’s holdings in the company at the moment is $62,000.
Furthermore, weave Communications received a donation of $57,000 from BNP Paribas Arbitrage SNC during the third quarter of the fiscal year. In addition, the State Street Corporation increased its ownership of Weave Communications by 59.3 percent during the third quarter by purchasing additional company shares. State Street Corporation now owns a total of 280,127 shares of the company, which have an intrinsic value of $1,415,000, after purchasing an additional 104,329 shares during the preceding quarter. Lastly, but certainly not least, during the third quarter, Vanguard Group Inc. increased the percentage of Weave Communications, which has a stake, by 58.3%. This is not to say that this is the most important thing during this period. Vanguard Group Inc. currently has 1,439,683 shares in the corporation, with a value of $7,270,000. The company’s stock is held by institutional investors and hedge funds, which account for 63.69% of the total shares.
A large shareholder in the company, Tiger Global Management Llc, sold 12,298 shares of the company’s stock on Thursday, October 20, according to additional pertinent news. The stock was sold for a total value of $75,017.80, with each share fetching an average price of $6.10 and the transaction totaling $75,017.80. After the completion of the transaction, the company insider now directly owns 6,933,563 shares of the company’s stock, which have a combined value of $42,294,734.30. Should you follow this link, you will be taken to the SEC filing in which the transaction was discussed in greater detail. A large shareholder in the company, Tiger Global Management Llc, sold 12,298 shares of the company’s stock on Thursday, October 20, according to additional pertinent news. When all of the shares were finally put up for sale, the average price paid for each one was $6.10, resulting in a total revenue of $75,017.80. The transaction has been completed, and the corporate insider owns 6,933,563 shares of the company’s stock. The total value of these shares is $42,294,734.30. On the Securities and Exchange Commission’s (SEC) website, you can access the information submitted to the SEC regarding the transaction, which is currently available. In addition, on Monday, November 14, Chief Financial Officer Alan Taylor sold 5,785 shares of Weave Communications stock. It was determined that the shares were sold at an average price of $4.68 per share, which resulted in a total sale volume of 27,073.80 dollars. Following the completion of the sale, the chief financial officer will have a direct ownership interest in the company corresponding to 287,202 shares, the value of which will be approximately $1,344,105.36 at the time of this writing. Disclosures that are related to the sale might be found in this section of the website. Corporate insiders sold 204,492 shares of stock over the most recent ninety days, resulting in a total value of $1,216,776 being realized. The company’s insiders hold a total of 41.86% of the company’s shares.
On Thursday, the price at which trading commenced on the NYSE WEAV was $4.39. There is a 1:82 correlation between the debt-to-equity ratio, the current ratio, and the quick ratio. The ratio of debt to equity is 0.06 right now. During the last 52 weeks, the share price of Weave Communications has ranged from $2.91 up to $15.65 at its highest point. The company’s moving average price over the past 50 days is $4.61, and its average price over the past 200 days is $4.87.
On November 2, the most recent quarterly earnings report that was made public for Weave Communications (NYSE: WEAV) was made available. The company reported earnings per share (EPS) of $0.18 for the quarter, which was $0.04 higher than the average expectation of $0.22 from industry experts. The net margin for Weave Communications was negative by 40.02 percentage points, and the company’s return on equity was negative by 55.19 percentage points. Both of these figures were negative. The company’s quarterly revenue came in at $36.23 million, significantly higher than the average projection made by industry analysts, which was $35.17 million for the company’s revenue. According to projections made by financial experts who focus on equity research, Weave Communications will finish the current fiscal year with a loss of 0.81 cents per share.
The customer communications and engagement software platform that is provided by Weave Communications, Inc. is accessible to users located in both the United States of America and Canada. Through this company’s platform, small and medium-sized businesses can increase the value of their customer contacts while simultaneously reducing the amount of time and effort spent on labor-intensive manual or repetitive tasks.
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