Stephen Sonne Sells 10,529 Shares of Palladyne AI Corp. (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 10,529 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $74,018.87. Following the sale, the insider now owns 127,218 shares in the company, valued at $894,342.54. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Palladyne AI Stock Performance

NASDAQ:PDYN opened at $6.88 on Friday. The stock has a 50-day simple moving average of $8.66 and a 200-day simple moving average of $4.62. The stock has a market cap of $207.17 million, a P/E ratio of -3.19 and a beta of 3.83. Palladyne AI Corp. has a 1 year low of $1.20 and a 1 year high of $14.95.

Analyst Ratings Changes

Separately, Alliance Global Partners started coverage on Palladyne AI in a research note on Monday, January 27th. They set a “buy” rating and a $15.00 target price for the company.

Institutional Trading of Palladyne AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDYN. Delta Air Lines Inc. acquired a new stake in shares of Palladyne AI during the third quarter worth about $676,000. Geode Capital Management LLC purchased a new position in Palladyne AI in the 3rd quarter valued at $316,000. Soviero Asset Management LP acquired a new position in shares of Palladyne AI during the fourth quarter worth about $1,227,000. Pursue Wealth Partners LLC acquired a new position in Palladyne AI during the 3rd quarter worth approximately $168,000. Finally, Jane Street Group LLC purchased a new position in Palladyne AI in the fourth quarter worth $1,054,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

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.