Palladyne AI Corp. (NASDAQ:PDYN) Sees Significant Increase in Short Interest

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 4,130,000 shares, a growth of 250.0% from the December 31st total of 1,180,000 shares. Based on an average daily 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.

Palladyne AI Stock Up 0.7 %

NASDAQ PDYN traded up $0.06 during mid-day trading on Friday, hitting $8.51. The stock had a trading volume of 4,087,832 shares, compared to its average volume of 7,133,211. The company has a 50 day simple moving average of $7.10 and a 200 day simple moving average of $3.74. The company has a market cap of $256.24 million, a price-to-earnings ratio of -3.94 and a beta of 3.90. Palladyne AI has a 52-week low of $0.45 and a 52-week high of $14.95.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on shares of Palladyne AI in a research report on Monday, January 27th. They set a "buy" rating and a $15.00 target price on the stock.

Institutional Trading of Palladyne AI

Several large investors have recently bought and sold shares of the company. Delta Air Lines Inc. acquired a new stake in Palladyne AI in the 3rd quarter valued at about $676,000. Geode Capital Management LLC acquired a new position in Palladyne AI during the third quarter worth about $316,000. Pursue Wealth Partners LLC purchased a new stake in shares of Palladyne AI in the third quarter valued at about $168,000. State Street Corp purchased a new position in shares of Palladyne AI during the 3rd quarter worth approximately $91,000. Finally, XTX Topco Ltd purchased a new position in shares of Palladyne AI during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 26.02% of the company's stock.

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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.