Palladyne AI Corp. (NASDAQ:PDYN) Short Interest Update

Palladyne AI Corp. (NASDAQ:PDYN) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,210,000 shares, a decrease of 12.5% from the February 28th total of 3,670,000 shares. Based on an average daily trading volume, of 7,500,000 shares, the short-interest ratio is presently 0.4 days. Currently, 13.4% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Alliance Global Partners started coverage on shares of Palladyne AI in a research report on Monday, January 27th. They set a “buy” rating and a $15.00 price objective for the company.

Palladyne AI Price Performance

NASDAQ PDYN traded down $0.39 on Thursday, reaching $5.88. The stock had a trading volume of 381,495 shares, compared to its average volume of 3,045,001. The company has a market cap of $207.09 million, a P/E ratio of -2.72 and a beta of 3.88. The firm has a fifty day moving average of $7.87 and a two-hundred day moving average of $5.53. Palladyne AI has a 1-year low of $1.26 and a 1-year high of $14.95.

Insider Buying and Selling at Palladyne AI

In related news, CTO Denis Garagic sold 55,827 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total value of $392,463.81. Following the sale, the chief technology officer now owns 495,978 shares in the company, valued at approximately $3,486,725.34. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Sonne sold 10,529 shares of Palladyne AI stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $74,018.87. Following the transaction, the insider now directly owns 127,218 shares of the company’s stock, valued at approximately $894,342.54. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,892 shares of company stock worth $644,817 over the last 90 days. Company insiders own 12.00% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new stake in Palladyne AI in the 4th quarter worth about $126,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Palladyne AI in the fourth quarter valued at approximately $129,000. Millennium Management LLC acquired a new stake in shares of Palladyne AI in the fourth quarter valued at approximately $134,000. Northern Trust Corp boosted its stake in shares of Palladyne AI by 54.6% in the fourth quarter. Northern Trust Corp now owns 31,804 shares of the company’s stock valued at $390,000 after buying an additional 11,226 shares during the period. Finally, Man Group plc acquired a new stake in Palladyne AI during the fourth quarter worth approximately $149,000. Institutional investors own 26.02% of the company’s stock.

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.