Short Interest in Palladyne AI Corp. (NASDAQ:PDYN) Expands By 343.8%

Palladyne AI Corp. (NASDAQ:PDYN) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,110,000 shares, an increase of 343.8% from the November 15th total of 475,400 shares. Based on an average daily trading volume, of 3,540,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 13.6% of the company’s shares are short sold.

Insider Transactions at Palladyne AI

In other news, Director Dennis M. Weibling acquired 215,053 shares of Palladyne AI stock in a transaction on Thursday, October 31st. The stock was purchased at an average price of $2.20 per share, with a total value of $473,116.60. Following the completion of the purchase, the director now owns 389,884 shares of the company’s stock, valued at approximately $857,744.80. The trade was a 123.01 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.00% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Delta Air Lines Inc. bought a new position in shares of Palladyne AI during the third quarter valued at about $676,000. Geode Capital Management LLC bought a new position in shares of Palladyne AI during the 3rd quarter worth approximately $316,000. Pursue Wealth Partners LLC purchased a new position in shares of Palladyne AI in the 3rd quarter worth approximately $168,000. State Street Corp bought a new position in shares of Palladyne AI in the third quarter valued at approximately $91,000. Finally, XTX Topco Ltd purchased a new stake in shares of Palladyne AI during the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Stock Down 2.9 %

PDYN stock traded down $0.12 during midday trading on Wednesday, reaching $3.95. 1,797,129 shares of the company’s stock traded hands, compared to its average volume of 1,295,499. The firm’s fifty day moving average price is $2.85 and its 200-day moving average price is $2.16. Palladyne AI has a 52 week low of $0.45 and a 52 week high of $7.93. The company has a market cap of $118.93 million, a price-to-earnings ratio of -1.76 and a beta of 4.24.

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.