Palladyne AI (NASDAQ:PDYN) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of Palladyne AI (NASDAQ:PDYN - Free Report) from a hold rating to a buy rating in a research report released on Saturday.

Palladyne AI Stock Performance

PDYN traded up $0.47 during trading on Friday, reaching $8.42. 2,382,980 shares of the company's stock were exchanged, compared to its average volume of 3,516,622. The company's fifty day moving average price is $7.72 and its 200-day moving average price is $7.67. The firm has a market capitalization of $296.55 million, a PE ratio of -4.50 and a beta of 3.77. Palladyne AI has a fifty-two week low of $1.38 and a fifty-two week high of $14.95.

Insiders Place Their Bets

In other 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 directly owned 598,668 shares of the company's stock, valued at $4,334,356.32. This represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kristi Martindale sold 6,772 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $7.24, for a total transaction of $49,029.28. Following the completion of the sale, the insider owned 318,307 shares in the company, valued at $2,304,542.68. This represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,470 shares of company stock valued at $206,123. 13.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new position in shares of Palladyne AI during the first quarter worth $35,000. Covestor Ltd increased its position in shares of Palladyne AI by 5,657.0% in the 1st quarter. Covestor Ltd now owns 14,047 shares of the company's stock valued at $83,000 after buying an additional 13,803 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Palladyne AI during the 4th quarter worth $126,000. Cubist Systematic Strategies LLC bought a new position in Palladyne AI during the fourth quarter worth about $129,000. Finally, AlphaQuest LLC bought a new position in Palladyne AI during the first quarter worth about $132,000. Institutional investors and hedge funds own 26.02% of the company's stock.

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.