Alliance Global Partners initiated coverage on shares of Palladyne AI (NASDAQ:PDYN - Free Report) in a research report released on Monday, Marketbeat reports. The firm issued a buy rating and a $15.00 target price on the stock.
Palladyne AI Stock Performance
Shares of NASDAQ PDYN traded up $0.06 during mid-day trading on Monday, reaching $8.51. 4,075,259 shares of the company traded hands, compared to its average volume of 7,472,955. The company's fifty day moving average is $7.03 and its two-hundred day moving average is $3.68. Palladyne AI has a fifty-two week low of $0.45 and a fifty-two week high of $14.95. The stock has a market cap of $256.24 million, a PE ratio of -3.94 and a beta of 3.90.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of PDYN. Charles Schwab Investment Management Inc. bought a new stake in Palladyne AI during the third quarter valued at about $29,000. XTX Topco Ltd acquired a new position in shares of Palladyne AI during the 3rd quarter worth about $55,000. State Street Corp bought a new stake in Palladyne AI during the 3rd quarter valued at approximately $91,000. Pursue Wealth Partners LLC acquired a new stake in Palladyne AI in the 3rd quarter valued at approximately $168,000. Finally, Geode Capital Management LLC bought a new position in Palladyne AI in the 3rd quarter worth approximately $316,000. 26.02% of the stock is currently owned by institutional investors and hedge funds.
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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