Palladyne AI Corp. (NASDAQ:PDYN – Get 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
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
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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