Insider Buying: Palladyne AI Corp. (NASDAQ:PDYN) Director Acquires 215,053 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) Director Dennis M. Weibling purchased 215,053 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $473,116.60. Following the completion of the purchase, the director now owns 389,884 shares of the company's stock, valued at approximately $857,744.80. This represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Palladyne AI Stock Down 3.0 %

NASDAQ:PDYN traded down $0.06 on Monday, reaching $1.95. The company's stock had a trading volume of 163,371 shares, compared to its average volume of 548,478. The firm has a market cap of $52.26 million, a price-to-earnings ratio of -0.65 and a beta of 3.30. The stock has a 50 day moving average price of $1.93 and a 200 day moving average price of $1.79. Palladyne AI Corp. has a 12-month low of $0.45 and a 12-month high of $3.50.

Palladyne AI (NASDAQ:PDYN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.20) earnings per share for the quarter. Palladyne AI had a negative return on equity of 62.26% and a negative net margin of 893.88%. The company had revenue of $2.71 million for the quarter.

Institutional Trading of Palladyne AI

A hedge fund recently bought a new stake in Palladyne AI stock. Pursue Wealth Partners LLC purchased a new stake in Palladyne AI Corp. (NASDAQ:PDYN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 93,768 shares of the company's stock, valued at approximately $168,000. Pursue Wealth Partners LLC owned approximately 0.35% of Palladyne AI at the end of the most recent reporting period. Hedge funds and other institutional investors own 26.02% of the company's stock.

Palladyne AI Company Profile

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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