Palladyne AI Corp. (NASDAQ:PDYN) Insider Stephen Sonne Sells 10,529 Shares

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 10,529 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $74,018.87. Following the sale, the insider now owns 127,218 shares of the company’s stock, valued at $894,342.54. This represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Palladyne AI Trading Down 7.3 %

Shares of NASDAQ:PDYN opened at $6.38 on Friday. The firm has a 50 day simple moving average of $8.71 and a 200-day simple moving average of $4.66. The company has a market capitalization of $192.11 million, a PE ratio of -2.95 and a beta of 3.83. Palladyne AI Corp. has a twelve month low of $1.20 and a twelve month high of $14.95.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Palladyne AI

A number of institutional investors have recently modified their holdings of PDYN. Pursue Wealth Partners LLC acquired a new position in shares of Palladyne AI in the 3rd quarter valued at $168,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Palladyne AI in the 3rd quarter valued at $29,000. State Street Corp acquired a new position in shares of Palladyne AI in the 3rd quarter valued at $91,000. XTX Topco Ltd acquired a new position in shares of Palladyne AI in the 3rd quarter valued at $55,000. Finally, Geode Capital Management LLC acquired a new position in shares of Palladyne AI in the 3rd quarter valued at $316,000. 26.02% of the stock is owned by institutional investors and hedge funds.

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.