Kristi Martindale Sells 6,772 Shares of Palladyne AI Corp. (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Kristi Martindale sold 6,772 shares of Palladyne AI stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $7.24, for a total value of $49,029.28. Following the completion of the transaction, the insider now owns 318,307 shares of the company’s stock, valued at approximately $2,304,542.68. The trade was a 2.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Palladyne AI Price Performance

NASDAQ:PDYN opened at $7.43 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 $261.68 million, a P/E ratio of -3.44 and a beta of 3.77. The business has a 50 day simple moving average of $6.32 and a 200 day simple moving average of $6.59.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDYN. EntryPoint Capital LLC acquired a new position in Palladyne AI during the 1st quarter valued at approximately $673,000. Soviero Asset Management LP acquired a new position in Palladyne AI during the 4th quarter valued at approximately $1,227,000. Goldman Sachs Group Inc. boosted its position in Palladyne AI by 507.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 115,407 shares of the company’s stock valued at $679,000 after purchasing an additional 96,402 shares during the period. Jane Street Group LLC bought a new stake in Palladyne AI during the 4th quarter valued at $1,054,000. Finally, CIBC Private Wealth Group LLC bought a new stake in Palladyne AI during the 4th quarter valued at $755,000. 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.