Palladyne AI Corp. (NASDAQ:PDYN) CFO Sells $63,548.58 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 10,919 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $5.82, for a total transaction of $63,548.58. Following the completion of the sale, the chief financial officer now owns 171,720 shares of the company’s stock, valued at $999,410.40. This trade represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Palladyne AI Stock Down 7.0 %

Shares of PDYN opened at $5.61 on Friday. The stock has a market cap of $197.58 million, a P/E ratio of -2.60 and a beta of 3.88. The business’s 50 day moving average price is $7.72 and its 200-day moving average price is $5.55. Palladyne AI Corp. has a 52 week low of $1.26 and a 52 week high of $14.95.

Institutional Investors Weigh In On Palladyne AI

Several hedge funds have recently added to or reduced their stakes in the stock. Delta Air Lines Inc. purchased a new position in shares of Palladyne AI in the 3rd quarter worth about $676,000. Geode Capital Management LLC increased its stake in Palladyne AI by 18.9% during the 4th quarter. Geode Capital Management LLC now owns 209,752 shares of the company’s stock valued at $2,574,000 after purchasing an additional 33,308 shares in the last quarter. Soviero Asset Management LP purchased a new position in Palladyne AI in the fourth quarter worth about $1,227,000. Jane Street Group LLC bought a new position in shares of Palladyne AI in the fourth quarter worth approximately $1,054,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Palladyne AI in the fourth quarter worth approximately $755,000. 26.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on Palladyne AI in a research note on Monday, January 27th. They issued a “buy” rating and a $15.00 price target on the 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.