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 stock in a transaction on Monday, March 31st. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Palladyne AI Price Performance

Palladyne AI stock traded up $0.46 during trading hours on Wednesday, hitting $6.27. The company had a trading volume of 1,446,353 shares, compared to its average volume of 3,055,614. Palladyne AI Corp. has a fifty-two week low of $1.26 and a fifty-two week high of $14.95. The firm has a market capitalization of $220.83 million, a P/E ratio of -2.90 and a beta of 3.88. The firm’s fifty day moving average is $7.94 and its 200-day moving average is $5.52.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on 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

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