Denis Garagic Sells 55,827 Shares of Palladyne AI Corp. (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 55,827 shares of the business’s 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 $392,463.81. Following the completion of the sale, the chief technology officer now owns 495,978 shares of the company’s stock, valued at $3,486,725.34. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Palladyne AI Price Performance

Palladyne AI stock opened at $6.38 on Friday. The stock has a market capitalization of $192.11 million, a PE ratio of -2.95 and a beta of 3.83. Palladyne AI Corp. has a 12 month low of $1.20 and a 12 month high of $14.95. The business has a 50 day simple moving average of $8.71 and a 200-day simple moving average of $4.66.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners initiated coverage on Palladyne AI in a research report on Monday, January 27th. They issued a “buy” rating and a $15.00 price objective for the company.

Institutional Trading of Palladyne AI

A number of institutional investors and hedge funds have recently made changes to their positions in PDYN. State Street Corp acquired a new stake in shares of Palladyne AI in the third quarter worth approximately $91,000. Delta Air Lines Inc. acquired a new stake in shares of Palladyne AI in the third quarter worth approximately $676,000. Geode Capital Management LLC acquired a new stake in shares of Palladyne AI in the third quarter worth approximately $316,000. XTX Topco Ltd acquired a new stake in shares of Palladyne AI in the third quarter worth approximately $55,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Palladyne AI in the third quarter worth approximately $29,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

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.