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

Palladyne AI Corp. (NASDAQ:PDYN) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 3,210,000 shares, a decline of 12.5% from the February 28th total of 3,670,000 shares. Based on an average daily volume of 7,500,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 13.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners assumed coverage on Palladyne AI in a research note on Monday, January 27th. They issued a “buy” rating and a $15.00 price target on the stock.

Palladyne AI Trading Down 6.2 %

Palladyne AI stock traded down $0.39 during midday trading on Thursday, reaching $5.88. The company’s stock had a trading volume of 381,495 shares, compared to its average volume of 3,045,001. The stock has a market cap of $207.09 million, a PE ratio of -2.72 and a beta of 3.88. Palladyne AI has a 52 week low of $1.26 and a 52 week high of $14.95. The business has a 50-day moving average price of $7.87 and a 200-day moving average price of $5.53.

Insider Activity at Palladyne AI

In other news, CFO Trevor Thatcher sold 10,919 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $5.82, for a total value of $63,548.58. Following the completion of the transaction, the chief financial officer now directly owns 171,720 shares in the company, valued at approximately $999,410.40. The trade was a 5.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Matthew Vogt sold 14,938 shares of the company’s stock in a transaction that occurred 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 sale, the executive now directly owns 96,923 shares of the company’s stock, valued at approximately $681,368.69. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,892 shares of company stock valued at $644,817 over the last quarter. 12.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palladyne AI

Several hedge funds and other institutional investors have recently made changes to their positions in PDYN. Dimensional Fund Advisors LP bought a new position in Palladyne AI in the 4th quarter valued at approximately $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. Man Group plc acquired a new stake in shares of Palladyne AI during the 4th quarter valued at $149,000. Finally, Cerity Partners LLC bought a new stake in Palladyne AI during the 4th quarter worth $164,000. 26.02% of the stock is owned by institutional investors.

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.