Short Interest in Palladyne AI Corp. (NASDAQ:PDYN) Expands By 39.5%

Palladyne AI Corp. (NASDAQ:PDYN) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 3,670,000 shares, a growth of 39.5% from the February 13th total of 2,630,000 shares. Currently, 16.3% of the company’s stock are short sold. Based on an average trading volume of 7,760,000 shares, the short-interest ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on Palladyne AI in a research report on Monday, January 27th. They set a “buy” rating and a $15.00 price target on the stock.

Palladyne AI Stock Up 14.4 %

Shares of Palladyne AI stock traded up $0.93 on Friday, hitting $7.38. The stock had a trading volume of 1,797,074 shares, compared to its average volume of 3,154,834. Palladyne AI has a twelve month low of $1.26 and a twelve month high of $14.95. The business’s 50 day moving average is $8.23 and its two-hundred day moving average is $5.04. The stock has a market cap of $259.92 million, a price-to-earnings ratio of -3.42 and a beta of 3.88.

Insider Buying and Selling

In related news, insider Stephen Sonne sold 10,529 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $74,018.87. Following the sale, the insider now owns 127,218 shares in the company, valued at approximately $894,342.54. This represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Matthew Vogt sold 14,938 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $7.03, for a total value of $105,014.14. Following the transaction, the executive now directly owns 96,923 shares in the company, valued at approximately $681,368.69. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,294 shares of company stock worth $571,497. Corporate insiders own 12.00% of the company’s stock.

Hedge Funds Weigh In On Palladyne AI

Several institutional investors and hedge funds have recently made changes to their positions in PDYN. Charles Schwab Investment Management Inc. acquired a new position in shares of Palladyne AI in the third quarter valued at approximately $29,000. State Street Corp acquired a new position in shares of Palladyne AI in the third quarter valued at approximately $91,000. XTX Topco Ltd acquired a new position in shares of Palladyne AI in the third quarter valued at approximately $55,000. Geode Capital Management LLC acquired a new position in shares of Palladyne AI in the third quarter valued at approximately $316,000. Finally, Delta Air Lines Inc. acquired a new position in shares of Palladyne AI in the third quarter valued at approximately $676,000. Institutional investors and hedge funds 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.