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

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 10,919 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palladyne AI Stock Performance

Shares of NASDAQ:PDYN traded up $0.46 during trading hours on Wednesday, hitting $6.27. 1,446,353 shares of the company’s stock traded hands, compared to its average volume of 3,055,614. The company’s fifty day simple moving average is $7.94 and its two-hundred day simple moving average is $5.52. The company 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 52 week low of $1.26 and a 52 week high of $14.95.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. bought a new stake in shares of Palladyne AI during the 3rd quarter worth $29,000. XTX Topco Ltd acquired a new position in shares of Palladyne AI in the 3rd quarter valued at $55,000. State Street Corp purchased a new position in Palladyne AI in the 3rd quarter worth about $91,000. Dimensional Fund Advisors LP acquired a new stake in Palladyne AI during the 4th quarter worth about $126,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Palladyne AI during the fourth quarter valued at about $129,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Analyst Ratings Changes

Separately, Alliance Global Partners assumed coverage on Palladyne AI in a report on Monday, January 27th. They issued a “buy” rating and a $15.00 price objective for the company.

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.