Insider Selling: Palladyne AI Corp. (NASDAQ:PDYN) CFO Sells 10,919 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 10,919 shares of Palladyne AI stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $5.82, for a total value 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. The trade was a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Palladyne AI Stock Down 7.0 %

Shares of NASDAQ:PDYN opened at $5.61 on Friday. The stock has a market capitalization of $197.58 million, a PE ratio of -2.60 and a beta of 3.88. The firm’s 50 day moving average price is $7.72 and its 200-day moving average price is $5.55. Palladyne AI Corp. has a twelve month low of $1.26 and a twelve month high of $14.95.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners assumed coverage on shares of Palladyne AI in a research note on Monday, January 27th. They set a “buy” rating and a $15.00 target price for the company.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PDYN. Soviero Asset Management LP purchased a new stake in Palladyne AI in the 4th quarter worth approximately $1,227,000. Two Sigma Investments LP bought a new position in shares of Palladyne AI in the fourth quarter worth approximately $186,000. Man Group plc purchased a new stake in shares of Palladyne AI in the fourth quarter worth $149,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Palladyne AI during the 4th quarter valued at $301,000. Finally, Millennium Management LLC purchased a new position in shares of Palladyne AI during the 4th quarter valued at $134,000. Institutional investors 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.