Palladyne AI Corp. (NASDAQ:PDYN) Sees Large Growth in Short Interest

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

Insider Buying and Selling at Palladyne AI

In other Palladyne AI news, Director Dennis M. Weibling purchased 215,053 shares of Palladyne AI stock in a transaction that occurred on Thursday, October 31st. The stock was acquired at an average price of $2.20 per share, for a total transaction of $473,116.60. Following the completion of the acquisition, the director now owns 389,884 shares of the company’s stock, valued at approximately $857,744.80. This trade represents a 123.01 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.00% of the company’s stock.

Institutional Trading of Palladyne AI

Several large investors have recently made changes to their positions in the company. Pursue Wealth Partners LLC acquired a new stake in shares of Palladyne AI during the third quarter valued at about $168,000. Geode Capital Management LLC bought a new stake in shares of Palladyne AI in the third quarter worth $316,000. State Street Corp acquired a new stake in Palladyne AI in the third quarter valued at $91,000. XTX Topco Ltd bought a new position in Palladyne AI during the 3rd quarter worth $55,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Palladyne AI during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Stock Performance

Shares of PDYN stock traded down $0.12 on Wednesday, hitting $3.95. The company’s stock had a trading volume of 1,797,129 shares, compared to its average volume of 1,295,499. Palladyne AI has a fifty-two week low of $0.45 and a fifty-two week high of $7.93. The stock’s 50 day moving average is $2.85 and its 200-day moving average is $2.16. The company has a market capitalization of $118.93 million, a PE 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.