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

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 4,130,000 shares, an increase 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 currently 0.5 days. Approximately 21.7% of the company's shares are short sold.

Insider Buying and Selling at Palladyne AI

In other news, Director Dennis M. Weibling purchased 215,053 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was bought 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 of the company's stock, valued at $857,744.80. This represents a 123.01 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.00% of the company's stock.

Hedge Funds Weigh In On Palladyne AI

Several hedge funds have recently made changes to their positions in PDYN. Charles Schwab Investment Management Inc. bought a new stake in Palladyne AI in the third quarter valued at $29,000. XTX Topco Ltd purchased a new stake in shares of Palladyne AI in the 3rd quarter worth about $55,000. State Street Corp bought a new stake in shares of Palladyne AI during the 3rd quarter valued at about $91,000. Pursue Wealth Partners LLC purchased a new position in shares of Palladyne AI during the third quarter valued at about $168,000. Finally, Geode Capital Management LLC purchased a new position in shares of Palladyne AI during the third quarter valued at about $316,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

Palladyne AI Stock Up 24.9 %

Shares of Palladyne AI stock traded up $1.80 during trading on Tuesday, reaching $9.04. 10,682,221 shares of the stock were exchanged, compared to its average volume of 7,061,241. Palladyne AI has a 1 year low of $0.45 and a 1 year high of $14.95. The firm has a market cap of $272.21 million, a price-to-earnings ratio of -4.19 and a beta of 3.90. The stock's fifty day moving average is $5.24 and its 200 day moving average is $3.06.

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.