WaveDancer, Inc. WAVD shares are roaring higher Wednesday. The company announced that its subsidiary, Tellenger, Inc., was awarded a seven-year contract to continue supporting a major financial program for a large U.S. government customer.

What To Know:

WaveDancer subsidiary, Tellenger, stated that the company expects total revenues between $12 and $15 million over the course of the contract's period of performance.

"The work we are doing in collaboration with our teaming partner will ready this critical government financial application for the future," said Stan Reese, CEO of Tellenger. "This substantial new award reinforces Tellenger's position as a leader in modernization and systems engineering. It is a testament to the significant value we bring to customers and partners through a commitment to delivering meaningful ROI with everything we do."

WAVD shares are moving higher on extremely heavy trading volume. According to data from Benzinga Pro, more than 80 million shares have been traded in the session, far exceeding the stock's 100-day average of 97,810 shares.

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WAVD Price Action: According to Benzinga Pro, WaveDancer shares are trading 194.6% higher at 81 cents at the time of publication.

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