Palladyne AI Corp. (NASDAQ:PDYN) Short Interest Update
by Amy Steele · The Cerbat GemPalladyne AI Corp. (NASDAQ:PDYN – Get Free Report) saw a significant 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. Approximately 18.6% of the company’s shares are sold short. Based on an average daily volume of 3,438,591 shares, the short-interest ratio is currently 2.0 days. 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 sold short.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, December 29th. Wall Street Zen raised Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Palladyne AI currently has a consensus rating of “Reduce” and a consensus price target of $8.00.
Check Out Our Latest Research Report on PDYN
Institutional Investors Weigh In On Palladyne AI
A number of large investors have recently modified their holdings of PDYN. Soviero Asset Management LP purchased a new stake in shares of Palladyne AI during the second quarter worth about $1,645,000. Cadent Capital Advisors LLC purchased a new position in Palladyne AI in the third quarter valued at about $1,494,000. Wealthspire Advisors LLC acquired a new stake in Palladyne AI during the 2nd quarter valued at approximately $216,000. XTX Topco Ltd purchased a new stake in Palladyne AI during the 2nd quarter worth approximately $800,000. Finally, DNB Asset Management AS increased its holdings in Palladyne AI by 52.7% during the 2nd quarter. DNB Asset Management AS now owns 36,584 shares of the company’s stock worth $317,000 after purchasing an additional 12,627 shares during the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.
Palladyne AI Stock Performance
Shares of NASDAQ:PDYN traded down $0.25 during midday trading on Tuesday, hitting $7.22. 1,252,081 shares of the company’s stock traded hands, compared to its average volume of 2,304,805. The firm’s fifty day moving average price is $6.39 and its two-hundred day moving average price is $6.90. Palladyne AI has a twelve month low of $4.14 and a twelve month high of $13.00. The company has a market cap of $303.53 million, a PE ratio of -4.27 and a beta of 3.78.
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.