Palladyne AI (NASDAQ:PDYN) Now Covered by Analysts at Alliance Global Partners

Analysts at Alliance Global Partners started coverage on shares of Palladyne AI (NASDAQ:PDYN) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $15.00 price target on the stock. Alliance Global Partners’ price target indicates a potential upside of 52.13% from the stock’s current price.

Palladyne AI Trading Up 6.6 %

Palladyne AI stock opened at $9.86 on Monday. The firm’s fifty day moving average price is $6.46 and its two-hundred day moving average price is $3.50. The firm has a market capitalization of $296.88 million, a price-to-earnings ratio of -4.56 and a beta of 3.90. Palladyne AI has a 1-year low of $0.45 and a 1-year high of $14.95.

Insider Transactions at Palladyne AI

In other news, Director Dennis M. Weibling purchased 215,053 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were bought at an average cost of $2.20 per share, with a total value of $473,116.60. Following the completion of the transaction, the director now directly owns 389,884 shares of the company’s stock, valued at approximately $857,744.80. This trade represents a 123.01 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.00% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. bought a new position in shares of Palladyne AI in the third quarter valued at approximately $29,000. XTX Topco Ltd purchased a new position in Palladyne AI in the third quarter worth $55,000. State Street Corp bought a new position in Palladyne AI in the 3rd quarter valued at $91,000. Pursue Wealth Partners LLC bought a new position in Palladyne AI in the 3rd quarter valued at $168,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Palladyne AI during the 3rd quarter valued at $316,000. Hedge funds and other 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.