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

Palladyne AI Corp. (NASDAQ:PDYN) was the target of a significant growth in short interest during the month of 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. Approximately 21.7% of the company’s shares are short sold. Based on an average daily volume of 7,570,000 shares, the days-to-cover ratio is currently 0.5 days.

Insider Transactions at Palladyne AI

In other news, Director Dennis M. Weibling acquired 215,053 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $473,116.60. Following the acquisition, the director now directly owns 389,884 shares in the company, valued at approximately $857,744.80. This represents a 123.01 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.00% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

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

Palladyne AI Price Performance

Shares of NASDAQ 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 company has a market capitalization of $276.73 million, a price-to-earnings ratio of -4.25 and a beta of 3.90. The business has a 50-day moving average of $5.52 and a 200-day moving average of $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.