Short Interest in WaveDancer, Inc. (NASDAQ:WAVD) Drops By 36.3%

WaveDancer, Inc. (NASDAQ:WAVD) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 25,400 shares, a decrease of 36.3% from the May 31st total of 39,900 shares. Based on an average trading volume of 35,800 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.5% of the company’s shares are sold short.

Hedge Funds Weigh In On WaveDancer

A hedge fund recently bought a new stake in WaveDancer stock. Trueblood Wealth Management LLC bought a new position in shares of WaveDancer, Inc. (NASDAQ:WAVD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,000 shares of the company’s stock, valued at approximately $27,000. Trueblood Wealth Management LLC owned approximately 0.80% of WaveDancer as of its most recent SEC filing. Institutional investors and hedge funds own 4.96% of the company’s stock.

WaveDancer Stock Performance

Shares of WAVD stock opened at $2.07 on Friday. The firm’s 50 day moving average price is $2.44 and its 200-day moving average price is $2.28. WaveDancer has a one year low of $1.10 and a one year high of $9.00.

WaveDancer (NASDAQ:WAVD) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.33) EPS for the quarter. WaveDancer had a negative return on equity of 57.30% and a negative net margin of 17.55%. The company had revenue of $1.92 million during the quarter.

About WaveDancer

WaveDancer, Inc develops and maintains information technology systems in the United States. The company also modernizes client information systems; and offers other IT-related professional services to government and commercial organizations. In addition, it offers IT consulting, development, training, migration, and on-site project support; and software development, system modernizations, cloud services, and cybersecurity services.