Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 1,180,000 shares, a drop of 44.1% from the November 30th total of 2,110,000 shares. Approximately 6.9% of the company's stock are short sold. Based on an average daily volume of 4,170,000 shares, the short-interest ratio is currently 0.3 days.
Insider Buying and Selling at Palladyne AI
In related news, Director Dennis M. Weibling bought 215,053 shares of the company's stock in a transaction on Thursday, October 31st. The shares were acquired at an average price of $2.20 per share, with a total value of $473,116.60. Following the transaction, the director now owns 389,884 shares of the company's stock, valued at $857,744.80. The trade was 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 hyperlink. Insiders own 12.00% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new stake in Palladyne AI in the third quarter valued at approximately $29,000. XTX Topco Ltd purchased a new stake in shares of Palladyne AI during the 3rd quarter valued at $55,000. State Street Corp acquired a new stake in shares of Palladyne AI in the 3rd quarter worth $91,000. Pursue Wealth Partners LLC purchased a new position in Palladyne AI during the 3rd quarter worth $168,000. Finally, Geode Capital Management LLC purchased a new position in Palladyne AI during the 3rd quarter worth $316,000. Hedge funds and other institutional investors own 26.02% of the company's stock.
Palladyne AI Stock Performance
PDYN traded up $4.48 on Friday, hitting $11.77. The company had a trading volume of 72,670,234 shares, compared to its average volume of 1,976,302. The stock has a market capitalization of $354.42 million, a price-to-earnings ratio of -5.45 and a beta of 4.26. The stock has a fifty day moving average price of $3.55 and a 200-day moving average price of $2.43. Palladyne AI has a 12-month low of $0.45 and a 12-month high of $14.05.
About Palladyne AI
(
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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.
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