Palladyne AI (NASDAQ:PDYN) Stock Price Down 0.2% - Should You Sell?

Palladyne AI Corp. (NASDAQ:PDYN - Get Free Report) shares were down 0.2% during mid-day trading on Friday . The company traded as low as $8.10 and last traded at $8.19. Approximately 688,104 shares traded hands during trading, a decline of 80% from the average daily volume of 3,502,521 shares. The stock had previously closed at $8.21.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Palladyne AI from a "hold" rating to a "buy" rating in a research report on Saturday.

Palladyne AI Stock Down 4.6%

The business has a 50-day moving average price of $7.64 and a two-hundred day moving average price of $7.63. The company has a market cap of $276.12 million, a P/E ratio of -4.19 and a beta of 3.77.

Insider Transactions at Palladyne AI

In related news, CTO Denis Garagic sold 15,653 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $7.24, for a total value of $113,327.72. Following the completion of the sale, the chief technology officer owned 598,668 shares in the company, valued at approximately $4,334,356.32. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kristi Martindale sold 6,772 shares of the stock in a transaction dated 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 sale, the insider owned 318,307 shares of the company's stock, valued at $2,304,542.68. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,470 shares of company stock valued at $206,123 in the last quarter. 13.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palladyne AI

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. bought a new stake in shares of Palladyne AI in the first quarter worth about $35,000. Covestor Ltd increased its holdings in shares of Palladyne AI by 5,657.0% in the first quarter. Covestor Ltd now owns 14,047 shares of the company's stock worth $83,000 after acquiring an additional 13,803 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Palladyne AI during the fourth quarter worth about $126,000. Cubist Systematic Strategies LLC acquired a new position in shares of Palladyne AI during the fourth quarter worth about $129,000. Finally, AlphaQuest LLC acquired a new position in shares of Palladyne AI during the first quarter worth about $132,000. 26.02% of the stock is currently owned by 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.