Palladyne AI Corp. (NASDAQ:PDYN) Short Interest Up 39.5% in February

Palladyne AI Corp. (NASDAQ:PDYN) was the target of a significant growth in short interest in the month of 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 shares of the company are sold short. Based on an average daily volume of 7,760,000 shares, the short-interest ratio is currently 0.5 days.

Insider Activity

In other news, CTO Denis Garagic sold 55,827 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $7.03, for a total transaction of $392,463.81. Following the sale, the chief technology officer now owns 495,978 shares of the company’s stock, valued at $3,486,725.34. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Matthew Vogt sold 14,938 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $7.03, for a total transaction of $105,014.14. Following the completion of the transaction, the executive now owns 96,923 shares of the company’s stock, valued at approximately $681,368.69. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,294 shares of company stock valued at $571,497. Company insiders own 12.00% of the company’s stock.

Hedge Funds Weigh In On Palladyne AI

A number of institutional investors have recently added to or reduced their stakes in PDYN. State Street Corp purchased a new position in Palladyne AI in the third quarter worth approximately $91,000. Delta Air Lines Inc. acquired a new position in Palladyne AI during the 3rd quarter worth $676,000. Geode Capital Management LLC purchased a new stake in shares of Palladyne AI during the third quarter worth approximately $316,000. XTX Topco Ltd purchased a new stake in shares of Palladyne AI in the 3rd quarter valued at approximately $55,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Palladyne AI in the third quarter valued at $29,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Palladyne AI Stock Up 4.1 %

Shares of Palladyne AI stock traded up $0.31 during trading hours on Monday, reaching $7.69. 1,437,706 shares of the company’s stock were exchanged, compared to its average volume of 3,147,860. The business has a fifty day moving average of $8.23 and a two-hundred day moving average of $5.07. Palladyne AI has a 1 year low of $1.26 and a 1 year high of $14.95. The company has a market capitalization of $270.67 million, a P/E ratio of -3.57 and a beta of 3.88.

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.