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

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

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners began 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.

View Our Latest Report on Palladyne AI

Insider Activity at Palladyne AI

In other Palladyne AI news, CRO Matthew Vogt sold 14,938 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $105,014.14. Following the completion of the sale, the executive now directly owns 96,923 shares in the company, valued at $681,368.69. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Denis Garagic sold 55,827 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total value 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. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,294 shares of company stock worth $571,497. Company insiders own 12.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in shares of Palladyne AI in the 4th quarter valued at $126,000. Cubist Systematic Strategies LLC bought a new position in shares of Palladyne AI in the 4th quarter valued at $129,000. Millennium Management LLC bought a new position in shares of Palladyne AI in the 4th quarter valued at $134,000. Northern Trust Corp lifted its stake in shares of Palladyne AI by 54.6% in the 4th quarter. Northern Trust Corp now owns 31,804 shares of the company’s stock valued at $390,000 after acquiring an additional 11,226 shares during the last quarter. Finally, Man Group plc bought a new position in shares of Palladyne AI in the 4th quarter valued at $149,000. 26.02% of the stock is currently owned by institutional investors.

Palladyne AI Trading Up 14.4 %

NASDAQ PDYN traded up $0.93 on Friday, hitting $7.38. 1,797,074 shares of the company’s stock were exchanged, compared to its average volume of 3,154,834. Palladyne AI has a 52 week low of $1.26 and a 52 week high of $14.95. The stock has a market cap of $259.92 million, a price-to-earnings ratio of -3.42 and a beta of 3.88. The stock has a 50-day moving average of $8.23 and a 200-day moving average of $5.04.

About Palladyne AI

(Get Free Report)

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.

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