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

Palladyne AI Corp. (NASDAQ:PDYN) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 6,757,928 shares, a growth of 26.6% from the November 30th total of 5,336,775 shares. Based on an average daily volume of 1,772,107 shares, the short-interest ratio is currently 3.8 days. Currently, 18.6% of the shares of the stock are sold short. Currently, 18.6% of the shares of the stock are sold short. Based on an average daily volume of 1,772,107 shares, the short-interest ratio is currently 3.8 days.

Palladyne AI Trading Down 0.7%

Shares of Palladyne AI stock opened at $4.27 on Wednesday. The firm has a market capitalization of $179.51 million, a PE ratio of -2.53 and a beta of 3.77. The business’s 50-day moving average price is $5.92 and its 200-day moving average price is $7.61. Palladyne AI has a 12 month low of $4.14 and a 12 month high of $13.00.

Palladyne AI (NASDAQ:PDYN) last posted its earnings results on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. The company had revenue of $0.86 million during the quarter, compared to analyst estimates of $1.15 million. Palladyne AI had a negative net margin of 953.45% and a negative return on equity of 133.19%.

Insider Activity at Palladyne AI

In related news, Director Michael T. Young acquired 5,300 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were purchased at an average price of $5.61 per share, with a total value of $29,733.00. Following the acquisition, the director directly owned 20,119 shares in the company, valued at $112,867.59. The trade was a 35.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CTO Denis Garagic sold 15,611 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.11, for a total value of $79,772.21. Following the completion of the transaction, the chief technology officer owned 569,248 shares in the company, valued at $2,908,857.28. This represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,423 shares of company stock valued at $145,242 in the last three months. Corporate insiders own 13.40% of the company’s stock.

Institutional Trading of Palladyne AI

Several hedge funds have recently bought and sold shares of PDYN. Quarry LP purchased a new position in shares of Palladyne AI in the third quarter worth $28,000. Osaic Holdings Inc. boosted its stake in Palladyne AI by 94.3% in the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after acquiring an additional 2,474 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Palladyne AI during the 2nd quarter worth approximately $51,000. Russell Investments Group Ltd. purchased a new position in Palladyne AI during the 3rd quarter worth approximately $61,000. Finally, Virtu Financial LLC acquired a new position in Palladyne AI in the third quarter valued at approximately $86,000. Institutional investors own 26.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PDYN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palladyne AI in a research report on Monday. Wall Street Zen upgraded Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Jefferies Financial Group assumed coverage on shares of Palladyne AI in a report on Thursday, September 11th. They issued a “hold” rating and a $8.00 price target for the company. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.50.

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. The company's software platform enables robotic systems to perceive their environment and quickly adapt to changing circumstances by generalizing from their experience using dynamic real-time operations without extensive programming and with minimal robot training.