McGuire Investment Group LLC Invests $130,000 in Palladyne AI Corp. $PDYN

McGuire Investment Group LLC bought a new position in Palladyne AI Corp. (NASDAQ:PDYN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,007 shares of the company’s stock, valued at approximately $130,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Palladyne AI by 507.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 115,407 shares of the company’s stock worth $679,000 after purchasing an additional 96,402 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Palladyne AI in the 1st quarter worth about $673,000. Perigon Wealth Management LLC bought a new stake in shares of Palladyne AI in the 2nd quarter worth about $330,000. SBI Securities Co. Ltd. increased its position in shares of Palladyne AI by 47.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 32,803 shares of the company’s stock worth $193,000 after purchasing an additional 10,599 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Palladyne AI by 8.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 26,600 shares of the company’s stock worth $156,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors own 26.02% of the company’s stock.

Palladyne AI Trading Up 7.5%

NASDAQ PDYN opened at $9.23 on Thursday. Palladyne AI Corp. has a 52 week low of $1.68 and a 52 week high of $14.95. The stock has a market cap of $387.20 million, a price-to-earnings ratio of -4.94 and a beta of 3.75. The company has a 50-day moving average price of $7.94 and a two-hundred day moving average price of $7.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Palladyne AI from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Jefferies Financial Group assumed coverage on shares of Palladyne AI in a research report on Thursday, September 11th. They set a “hold” rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Insider Activity

In other news, insider Kristi Martindale sold 6,406 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total value of $47,532.52. Following the completion of the transaction, the insider directly owned 312,236 shares in the company, valued at $2,316,791.12. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Denis Garagic sold 14,809 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total transaction of $109,882.78. Following the completion of the transaction, the chief technology officer owned 584,859 shares of the company’s stock, valued at $4,339,653.78. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,963 shares of company stock valued at $200,065. 13.40% of the stock is owned by insiders.

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.