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

Palladyne AI Corp. (NASDAQ:PDYN) saw a significant decrease in short interest in January. As of January 15th, there was short interest totalling 2,190,000 shares, a decrease of 47.0% from the December 31st total of 4,130,000 shares. Based on an average trading volume of 8,570,000 shares, the short-interest ratio is currently 0.3 days. Currently, 11.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PDYN. Charles Schwab Investment Management Inc. purchased a new stake in shares of Palladyne AI during the third quarter worth approximately $29,000. XTX Topco Ltd purchased a new position in Palladyne AI during the 3rd quarter worth $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 stake in shares of Palladyne AI in the third quarter valued at about $168,000. Finally, Geode Capital Management LLC acquired a new position in shares of Palladyne AI during the third quarter worth about $316,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Palladyne AI Trading Up 0.7 %

Shares of NASDAQ PDYN traded up $0.06 during midday trading on Friday, reaching $8.51. 4,087,832 shares of the company were exchanged, compared to its average volume of 7,133,211. The stock has a fifty day simple moving average of $7.10 and a 200 day simple moving average of $3.74. The stock has a market cap of $256.25 million, a P/E ratio of -3.94 and a beta of 3.90. Palladyne AI has a 1 year low of $0.45 and a 1 year high of $14.95.

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.