Trevor Thatcher Sells 10,919 Shares of Palladyne AI Corp. (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) CFO Trevor Thatcher sold 10,919 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 171,720 shares in the company, valued at $999,410.40. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Palladyne AI Trading Down 2.5 %

Shares of PDYN traded down $0.14 during trading hours on Monday, reaching $5.47. 1,321,845 shares of the stock traded hands, compared to its average volume of 3,031,996. The company has a market cap of $192.65 million, a P/E ratio of -2.53 and a beta of 3.78. The company's 50-day moving average price is $7.64 and its two-hundred day moving average price is $5.63. Palladyne AI Corp. has a 52-week low of $1.26 and a 52-week high of $14.95.

Hedge Funds Weigh In On Palladyne AI

Several large investors have recently made changes to their positions in PDYN. Dimensional Fund Advisors LP purchased a new stake in shares of Palladyne AI during the fourth quarter worth about $126,000. Cubist Systematic Strategies LLC purchased a new stake in Palladyne AI during the 4th quarter valued at approximately $129,000. Millennium Management LLC bought a new stake in shares of Palladyne AI during the fourth quarter valued at approximately $134,000. Man Group plc purchased a new position in shares of Palladyne AI in the fourth quarter worth $149,000. Finally, Cerity Partners LLC purchased a new position in shares of Palladyne AI in the fourth quarter worth $164,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.