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

Palladyne AI Corp. (NASDAQ:PDYN) was the recipient of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 6,755,528 shares, a drop of 22.4% from the January 29th total of 8,710,257 shares. Based on an average daily volume of 3,438,591 shares, the short-interest ratio is currently 2.0 days. Approximately 18.6% of the company’s shares are short sold. Approximately 18.6% of the company’s shares are short sold. Based on an average daily volume of 3,438,591 shares, the short-interest ratio is currently 2.0 days.

Palladyne AI Trading Up 6.6%

Shares of PDYN stock opened at $7.49 on Monday. The firm’s fifty day moving average price is $6.29 and its two-hundred day moving average price is $6.90. Palladyne AI has a 1 year low of $4.14 and a 1 year high of $13.00. The firm has a market capitalization of $314.90 million, a P/E ratio of -4.43 and a beta of 3.80.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PDYN shares. Wall Street Zen upgraded shares of Palladyne AI from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palladyne AI in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $8.00.

Institutional Trading of Palladyne AI

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

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. 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.