Short Interest in Palladyne AI Corp. (NASDAQ:PDYN) Increases By 250.0%

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 4,130,000 shares, a growth of 250.0% from the December 31st total of 1,180,000 shares. Approximately 21.7% of the shares of the company are sold short. Based on an average daily volume of 7,570,000 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

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Separately, Alliance Global Partners assumed coverage on shares of Palladyne AI in a research report on Monday. They set a "buy" rating and a $15.00 price target on the stock.

Read Our Latest Analysis on PDYN

Palladyne AI Stock Performance

Shares of NASDAQ PDYN traded up $0.06 during trading hours on Friday, hitting $8.51. 4,087,832 shares of the stock were exchanged, compared to its average volume of 7,473,655. Palladyne AI has a 1-year low of $0.45 and a 1-year high of $14.95. The company has a market cap of $256.24 million, a PE ratio of -3.94 and a beta of 3.90. The company's fifty day simple moving average is $7.03 and its two-hundred day simple moving average is $3.68.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PDYN. State Street Corp acquired a new position in Palladyne AI in the 3rd quarter worth about $91,000. Delta Air Lines Inc. bought a new stake in shares of Palladyne AI in the third quarter worth $676,000. Geode Capital Management LLC acquired a new stake in Palladyne AI in the third quarter valued at $316,000. XTX Topco Ltd acquired a new position in shares of Palladyne AI in the third quarter worth approximately $55,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Palladyne AI in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 26.02% of the company's stock.

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.

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