It is true, in the sense that a Wald statistics is expected to be small when the null hypothesis $H_0$ is true and big when is false. Thus, a value of the Wald statistic as small as 0.0015 is likely to lead to a not-rejection for any conventional significance level. Similarly, a value of the Wald statistics as big as 40 is likely lo lead to a rejection. However, to be definite, you should better _declare_ the significance level $\alpha$ of your test. For example, if you are using a normally distributed statistics and $\alpha=0.1$ then the decision rule is:
> Reject $H_0$ if |wald statistics|$>z_{\alpha/2}$
Thus, since $z_{\alpha/2}=1.645$, you do not reject $H_0$ at the 0.1 level.
Finally, there is a problem in that it seems you did _two_ tests on the same parameter. This is not correct or, at least, you should adjust the significance level for multiple testing.