Palladyne AI Corp. (NASDAQ:PDYN) Short Interest Up 250.0% in December

Palladyne AI Corp. (NASDAQ:PDYN) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 4,130,000 shares, an increase of 250.0% from the December 15th total of 1,180,000 shares. Based on an average trading volume of 7,570,000 shares, the short-interest ratio is presently 0.5 days. Approximately 21.7% of the shares of the company are short sold.

Palladyne AI Price Performance

Shares of PDYN opened at $9.19 on Thursday. The business’s fifty day moving average price is $5.52 and its 200 day moving average price is $3.16. Palladyne AI has a 12-month low of $0.45 and a 12-month high of $14.95. The stock has a market capitalization of $276.73 million, a PE ratio of -4.25 and a beta of 3.90.

Insider Buying and Selling

In other news, Director Dennis M. Weibling acquired 215,053 shares of Palladyne AI stock in a transaction that occurred on Thursday, October 31st. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $473,116.60. Following the completion of the purchase, the director now directly owns 389,884 shares of the company’s stock, valued at $857,744.80. This trade represents a 123.01 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palladyne AI

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. bought a new position in Palladyne AI during the third quarter worth $29,000. XTX Topco Ltd bought a new position in Palladyne AI during the third quarter worth $55,000. State Street Corp bought a new position in Palladyne AI during the third quarter worth $91,000. Pursue Wealth Partners LLC bought a new position in Palladyne AI during the third quarter worth $168,000. Finally, Geode Capital Management LLC acquired a new stake in Palladyne AI in the third quarter worth $316,000. 26.02% of the stock is currently owned by institutional investors.

About Palladyne AI

Palladyne AI Corp., a software company, focuses on delivering software that enhances the utility and functionality of third-party stationary and mobile robotic systems in the United States. Its Artificial Intelligence (AI)/ Machine Learning (ML) software platform enables robots to observe, learn, reason, and act in structured and unstructured environments.