Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) CTO Denis Garagic sold 55,827 shares of Palladyne AI stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $392,463.81. Following the completion of the transaction, the chief technology officer now directly owns 495,978 shares of the company's stock, valued at approximately $3,486,725.34. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Palladyne AI Stock Performance
Shares of PDYN traded down $0.50 during midday trading on Friday, hitting $6.38. The company had a trading volume of 2,440,552 shares, compared to its average volume of 6,304,745. Palladyne AI Corp. has a 1 year low of $1.20 and a 1 year high of $14.95. The firm has a market capitalization of $192.11 million, a P/E ratio of -2.95 and a beta of 3.83. The company's 50-day simple moving average is $8.71 and its 200-day simple moving average is $4.68.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new stake in shares of Palladyne AI in the 4th quarter valued at approximately $126,000. Cubist Systematic Strategies LLC purchased a new position in Palladyne AI in the fourth quarter valued at $129,000. Millennium Management LLC acquired a new stake in Palladyne AI in the fourth quarter valued at $134,000. Man Group plc purchased a new stake in Palladyne AI during the 4th quarter worth about $149,000. Finally, Cerity Partners LLC purchased a new position in shares of Palladyne AI in the 4th quarter valued at about $164,000. Hedge funds and other institutional investors own 26.02% of the company's stock.
Wall Street Analyst Weigh In
Separately, Alliance Global Partners began coverage on Palladyne AI in a research report on Monday, January 27th. They set a "buy" rating and a $15.00 price objective on the stock.
Check Out Our Latest Research Report on PDYN
About Palladyne AI
(
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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.
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