Palladyne AI Corp. (NASDAQ:PDYN) Short Interest Update

Palladyne AI Corp. (NASDAQ:PDYN) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,670,000 shares, an increase of 39.5% from the February 13th total of 2,630,000 shares. Currently, 16.3% of the shares of the company are short sold. Based on an average daily volume of 7,760,000 shares, the short-interest ratio is currently 0.5 days.

Palladyne AI Trading Up 4.3 %

NASDAQ PDYN opened at $7.70 on Tuesday. The firm has a market capitalization of $271.19 million, a PE ratio of -3.56 and a beta of 3.88. The business’s 50-day moving average price is $8.20 and its two-hundred day moving average price is $5.11. Palladyne AI has a 12 month low of $1.26 and a 12 month high of $14.95.

Analyst Ratings Changes

Separately, Alliance Global Partners assumed coverage on shares of Palladyne AI in a research report on Monday, January 27th. They issued a “buy” rating and a $15.00 price target for the company.

Insider Activity

In other Palladyne AI news, CRO Matthew Vogt sold 14,938 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total value of $105,014.14. Following the transaction, the executive now directly owns 96,923 shares of the company’s stock, valued at $681,368.69. This represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Sonne sold 10,529 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $74,018.87. Following the completion of the sale, the insider now owns 127,218 shares of the company’s stock, valued at approximately $894,342.54. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,294 shares of company stock valued at $571,497 over the last ninety days. 12.00% of the stock is currently owned by company insiders.

Institutional Trading of Palladyne AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDYN. State Street Corp bought a new stake in Palladyne AI during the third quarter valued at $91,000. Delta Air Lines Inc. bought a new position in shares of Palladyne AI during the 3rd quarter worth about $676,000. Geode Capital Management LLC bought a new stake in Palladyne AI in the 3rd quarter valued at about $316,000. XTX Topco Ltd acquired a new position in Palladyne AI during the 3rd quarter worth approximately $55,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Palladyne AI in the third quarter worth approximately $29,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Company Profile

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.