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

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) was the recipient 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. Based on an average daily trading volume, of 7,570,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 21.7% of the company's stock are short sold.

Palladyne AI Price Performance

Shares of NASDAQ PDYN traded down $0.04 during midday trading on Thursday, hitting $9.15. 5,309,363 shares of the company's stock were exchanged, compared to its average volume of 7,077,107. The firm's fifty day simple moving average is $5.66 and its 200-day simple moving average is $3.20. The company has a market cap of $275.52 million, a PE ratio of -4.24 and a beta of 3.90. Palladyne AI has a twelve month low of $0.45 and a twelve month high of $14.95.

Insider Activity at Palladyne AI

In other Palladyne AI news, Director Dennis M. Weibling purchased 215,053 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was bought at an average cost of $2.20 per share, with a total value of $473,116.60. Following the acquisition, the director now directly owns 389,884 shares of the company's stock, valued at approximately $857,744.80. This represents a 123.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Palladyne AI

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

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.