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 firm’s 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 sale, the chief financial officer now directly owns 171,720 shares of the company’s stock, valued at approximately $999,410.40. This trade represents a 5.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palladyne AI Trading Up 7.9 %

Shares of NASDAQ:PDYN opened at $6.27 on Thursday. The stock has a market capitalization of $220.83 million, a PE ratio of -2.90 and a beta of 3.88. Palladyne AI Corp. has a 1 year low of $1.26 and a 1 year high of $14.95. The firm has a fifty day moving average price of $7.87 and a 200 day moving average price of $5.53.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new stake in shares of Palladyne AI in the third quarter worth $29,000. XTX Topco Ltd bought a new position in Palladyne AI in the 3rd quarter worth $55,000. State Street Corp acquired a new position in Palladyne AI during the 3rd quarter worth $91,000. Dimensional Fund Advisors LP bought a new stake in Palladyne AI during the fourth quarter valued at about $126,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Palladyne AI in the fourth quarter valued at about $129,000. Institutional investors and hedge funds 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.