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

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

Insiders Place Their Bets

In other news, Director Dennis M. Weibling purchased 215,053 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were bought at an average cost of $2.20 per share, with a total value of $473,116.60. Following the purchase, the director now directly owns 389,884 shares of the company’s stock, valued at approximately $857,744.80. This trade represents a 123.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Delta Air Lines Inc. purchased a new stake in Palladyne AI during the third quarter valued at about $676,000. Geode Capital Management LLC acquired a new position in shares of Palladyne AI in the 3rd quarter valued at about $316,000. XTX Topco Ltd purchased a new stake in shares of Palladyne AI during the 3rd quarter worth about $55,000. State Street Corp acquired a new stake in Palladyne AI during the 3rd quarter worth approximately $91,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Palladyne AI in the third quarter valued at approximately $29,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

Palladyne AI Trading Down 0.7 %

NASDAQ PDYN opened at $7.24 on Tuesday. The company has a market capitalization of $218.01 million, a PE ratio of -3.35 and a beta of 3.90. The business’s 50-day moving average price is $5.24 and its 200 day moving average price is $3.06. Palladyne AI has a twelve month low of $0.45 and a twelve month high of $14.95.

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.