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 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. Currently, 21.7% of the company’s stock are short sold. Based on an average daily volume of 7,570,000 shares, the days-to-cover ratio is presently 0.5 days.

Insider Buying and Selling

In other news, Director Dennis M. Weibling acquired 215,053 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was acquired at an average cost of $2.20 per share, with a total value of $473,116.60. Following the completion of the acquisition, the director now owns 389,884 shares of the company’s stock, valued at $857,744.80. The trade was a 123.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palladyne AI

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new stake in Palladyne AI in the 3rd quarter valued at about $29,000. XTX Topco Ltd acquired a new stake in shares of Palladyne AI in the third quarter valued at approximately $55,000. State Street Corp purchased a new position in shares of Palladyne AI during the 3rd quarter worth approximately $91,000. Pursue Wealth Partners LLC acquired a new position in shares of Palladyne AI during the 3rd quarter worth approximately $168,000. Finally, Geode Capital Management LLC purchased a new stake in Palladyne AI in the 3rd quarter valued at approximately $316,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Palladyne AI Stock Performance

Shares of PDYN opened at $9.19 on Thursday. Palladyne AI has a 1 year low of $0.45 and a 1 year high of $14.95. The stock has a market capitalization of $276.73 million, a P/E ratio of -4.25 and a beta of 3.90. The company’s fifty day moving average is $5.52 and its two-hundred day moving average is $3.16.

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.