683 Capital Management LLC Acquires New Holdings in Palladyne AI Corp. (NASDAQ:PDYN)

683 Capital Management LLC purchased a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,000 shares of the company’s stock, valued at approximately $417,000. 683 Capital Management LLC owned about 0.11% of Palladyne AI as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PDYN. Dimensional Fund Advisors LP purchased a new stake in Palladyne AI during the fourth quarter valued at approximately $126,000. Cerity Partners LLC acquired a new stake in shares of Palladyne AI in the 4th quarter worth $164,000. Schonfeld Strategic Advisors LLC purchased a new position in Palladyne AI during the 4th quarter worth $189,000. SBI Securities Co. Ltd. acquired a new position in Palladyne AI during the 4th quarter valued at about $272,000. Finally, Northern Trust Corp boosted its holdings in Palladyne AI by 54.6% in the fourth quarter. Northern Trust Corp now owns 31,804 shares of the company’s stock worth $390,000 after acquiring an additional 11,226 shares in the last quarter. 26.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CRO Matthew Vogt sold 14,938 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $105,014.14. Following the transaction, the executive now owns 96,923 shares in the company, valued at approximately $681,368.69. This represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Trevor Thatcher sold 10,919 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $5.82, for a total transaction of $63,548.58. Following the transaction, the chief financial officer now directly owns 171,720 shares of the company’s stock, valued at $999,410.40. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,892 shares of company stock worth $644,817 in the last 90 days. Insiders own 12.00% of the company’s stock.

Palladyne AI Price Performance

Shares of PDYN opened at $6.25 on Friday. The company’s fifty day moving average price is $6.42 and its 200-day moving average price is $6.13. Palladyne AI Corp. has a 1-year low of $1.26 and a 1-year high of $14.95. The firm has a market capitalization of $220.13 million, a PE ratio of -2.89 and a beta of 3.77.

Wall Street Analyst Weigh In

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

Palladyne AI 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.