Short Interest in Palladyne AI Corp. (NASDAQ:PDYN) Decreases By 40.3%

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 529,100 shares, a drop of 40.3% from the October 15th total of 886,000 shares. Based on an average daily volume of 663,700 shares, the days-to-cover ratio is currently 0.8 days. Approximately 3.5% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, Director Dennis M. Weibling acquired 215,053 shares of Palladyne AI stock in a transaction dated Thursday, October 31st. The shares were purchased at an average price of $2.20 per share, for a total transaction of $473,116.60. Following the completion of the transaction, the director now directly owns 389,884 shares in the company, valued at approximately $857,744.80. This represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.00% of the stock is currently owned by company insiders.

Institutional Trading of Palladyne AI

An institutional investor recently bought a new position in Palladyne AI stock. Charles Schwab Investment Management Inc. bought a new stake in Palladyne AI Corp. (NASDAQ:PDYN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,115 shares of the company's stock, valued at approximately $29,000. Charles Schwab Investment Management Inc. owned approximately 0.06% of Palladyne AI as of its most recent filing with the Securities & Exchange Commission. 26.02% of the stock is owned by institutional investors.

Palladyne AI Trading Down 4.6 %

Shares of NASDAQ:PDYN traded down $0.10 during mid-day trading on Wednesday, reaching $2.07. The stock had a trading volume of 434,093 shares, compared to its average volume of 542,703. The business's 50 day moving average price is $1.99 and its 200 day moving average price is $1.82. Palladyne AI has a 1 year low of $0.45 and a 1 year high of $3.50. The company has a market cap of $55.48 million, a P/E ratio of -0.72 and a beta of 3.30.

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.