WaveDancer, Inc. (NASDAQ:WAVD) Sees Large Increase in Short Interest

WaveDancer, Inc. (NASDAQ:WAVDGet Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 62,500 shares, an increase of 59.4% from the February 29th total of 39,200 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily trading volume, of 190,500 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On WaveDancer

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAVD. Renaissance Technologies LLC acquired a new stake in WaveDancer in the 2nd quarter worth approximately $100,000. Pathstone Holdings LLC acquired a new stake in WaveDancer in the 4th quarter worth approximately $42,000. State Street Corp acquired a new stake in WaveDancer in the 2nd quarter worth approximately $33,000. Northern Trust Corp acquired a new stake in WaveDancer in the 2nd quarter worth approximately $25,000. Finally, Trueblood Wealth Management LLC acquired a new stake in WaveDancer in the 4th quarter worth approximately $27,000. 4.96% of the stock is currently owned by institutional investors and hedge funds.

WaveDancer Stock Performance

Shares of NASDAQ WAVD opened at $3.46 on Friday. The business has a 50 day simple moving average of $2.40 and a 200 day simple moving average of $2.25. WaveDancer has a 52 week low of $1.10 and a 52 week high of $9.00. The stock has a market cap of $6.96 million, a price-to-earnings ratio of -0.60 and a beta of 2.88.

WaveDancer Company Profile

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WaveDancer, Inc engages in development and maintenance of information technology systems, modernizing client information systems, and offers other IT-related professional services to government and commercial organizations in the United States. It also offers secure supply chain management software solution; consulting, development, training, and migration; and software development, system modernizations, cloud-based solutions, and cybersecurity services.

Further Reading

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