Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher Sells 10,919 Shares

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 10,919 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 171,720 shares of the company’s stock, valued at approximately $999,410.40. The trade was a 5.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Palladyne AI Price Performance

Shares of NASDAQ:PDYN opened at $6.27 on Thursday. The stock’s 50 day moving average price is $7.87 and its 200 day moving average price is $5.53. The stock has a market cap of $220.83 million, a price-to-earnings ratio of -2.90 and a beta of 3.88. Palladyne AI Corp. has a 12 month low of $1.26 and a 12 month high of $14.95.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated 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 on the stock.

Institutional Trading of Palladyne AI

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new position in Palladyne AI during the third quarter worth about $29,000. State Street Corp bought a new position in shares of Palladyne AI during the 3rd quarter valued at about $91,000. XTX Topco Ltd acquired a new position in shares of Palladyne AI in the 3rd quarter worth approximately $55,000. Geode Capital Management LLC bought a new stake in shares of Palladyne AI in the 3rd quarter worth approximately $316,000. Finally, Delta Air Lines Inc. acquired a new stake in Palladyne AI during the third quarter valued at approximately $676,000. 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.