Trevor Thatcher Sells 2,512 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 2,512 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $7.42, for a total value of $18,639.04. Following the transaction, the chief financial officer owned 167,585 shares in the company, valued at $1,243,480.70. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Palladyne AI Stock Up 3.1%

Shares of PDYN opened at $7.67 on Friday. Palladyne AI Corp. has a 12-month low of $1.38 and a 12-month high of $14.95. The firm has a market capitalization of $321.76 million, a price-to-earnings ratio of -4.10 and a beta of 3.76. The stock’s 50-day moving average price is $8.68 and its 200 day moving average price is $7.68.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Palladyne AI from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $15.00.

Institutional Investors Weigh In On Palladyne AI

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in Palladyne AI by 136.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock worth $93,000 after acquiring an additional 6,213 shares during the last quarter. Bridgeway Capital Management LLC grew its position in Palladyne AI by 9.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock worth $422,000 after acquiring an additional 4,300 shares during the last quarter. Bank of America Corp DE grew its position in Palladyne AI by 254.0% during the 2nd quarter. Bank of America Corp DE now owns 22,606 shares of the company’s stock worth $196,000 after acquiring an additional 16,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Palladyne AI during the 2nd quarter worth approximately $121,000. Finally, NewEdge Advisors LLC grew its position in Palladyne AI by 696.7% during the 2nd quarter. NewEdge Advisors LLC now owns 38,423 shares of the company’s stock worth $333,000 after acquiring an additional 33,600 shares during the last quarter. 26.02% of the stock is currently owned by institutional investors.

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.