OMERS ADMINISTRATION Corp Buys New Shares in Palladyne AI Corp. (NASDAQ:PDYN)

OMERS ADMINISTRATION Corp bought a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,500 shares of the company’s stock, valued at approximately $301,000.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of Palladyne AI during the 4th quarter valued at $126,000. Cubist Systematic Strategies LLC purchased a new stake in Palladyne AI in the 4th quarter worth $129,000. Millennium Management LLC purchased a new stake in Palladyne AI in the 4th quarter worth $134,000. Cerity Partners LLC purchased a new stake in Palladyne AI in the 4th quarter worth $164,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Palladyne AI in the 4th quarter worth $189,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Palladyne AI Stock Up 2.9%

Shares of PDYN stock opened at $7.48 on Tuesday. The stock has a market cap of $263.45 million, a P/E ratio of -3.46 and a beta of 3.77. Palladyne AI Corp. has a 52 week low of $1.38 and a 52 week high of $14.95. The company’s fifty day simple moving average is $6.32 and its two-hundred day simple moving average is $6.51.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on shares of Palladyne AI in a research note on Monday, January 27th. They issued a “buy” rating and a $15.00 price target on the stock.

Insiders Place Their Bets

In other news, CTO Denis Garagic sold 55,827 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $7.03, for a total transaction of $392,463.81. Following the sale, the chief technology officer now directly owns 495,978 shares in the company, valued at approximately $3,486,725.34. This represents a 10.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Trevor Thatcher sold 10,919 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $5.82, for a total transaction of $63,548.58. Following the sale, the chief financial officer now owns 171,720 shares in the company, 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 have sold a total of 93,892 shares of company stock worth $644,817 in the last 90 days. 12.00% of the stock is currently owned by corporate insiders.

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.