WaveDancer (NASDAQ:WAVD) Shares Up 31% – Still a Buy?

WaveDancer, Inc. (NASDAQ:WAVD) shot up 31% during mid-day trading on Wednesday . The stock traded as high as $5.82 and last traded at $4.10. 2,923,480 shares changed hands during mid-day trading, an increase of 2,819% from the average session volume of 100,164 shares. The stock had previously closed at $3.13.

WaveDancer Trading Up 42.6 %

The firm’s fifty day moving average price is $4.09 and its 200-day moving average price is $5.96.

Hedge Funds Weigh In On WaveDancer

A hedge fund recently raised its stake in WaveDancer stock. Waldron Private Wealth LLC increased its position in shares of WaveDancer, Inc. (NASDAQ:WAVD) by 200.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Waldron Private Wealth LLC owned about 1.49% of WaveDancer worth $62,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 4.96% of the company’s stock.

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.