100,000 Shares in Palladyne AI Corp. (NASDAQ:PDYN) Purchased by Soviero Asset Management LP

Soviero Asset Management LP acquired a new position in shares of Palladyne AI Corp. (NASDAQ:PDYN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,227,000. Soviero Asset Management LP owned 0.33% of Palladyne AI as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new position in Palladyne AI in the 4th quarter worth about $126,000. Cubist Systematic Strategies LLC bought a new position in Palladyne AI in the 4th quarter worth about $129,000. Millennium Management LLC bought a new position in Palladyne AI in the 4th quarter worth about $134,000. Man Group plc bought a new position in Palladyne AI in the 4th quarter worth about $149,000. Finally, Cerity Partners LLC bought a new position in Palladyne AI in the 4th quarter worth about $164,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Insiders Place Their Bets

In related news, CRO Matthew Vogt sold 14,938 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $7.03, for a total transaction of $105,014.14. Following the transaction, the executive now owns 96,923 shares in the company, valued at $681,368.69. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Trevor Thatcher sold 10,919 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $5.82, for a total transaction of $63,548.58. Following the transaction, the chief financial officer now owns 171,720 shares in the company, valued at $999,410.40. This represents a 5.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,892 shares of company stock worth $644,817. Insiders own 12.00% of the company’s stock.

Palladyne AI Trading Up 18.8%

NASDAQ PDYN opened at $7.27 on Monday. Palladyne AI Corp. has a 52 week low of $1.38 and a 52 week high of $14.95. The stock has a market cap of $256.05 million, a price-to-earnings ratio of -3.37 and a beta of 3.77. The company has a 50-day moving average price of $6.31 and a two-hundred day moving average price of $6.47.

Wall Street Analysts Forecast Growth

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

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.