Vontobel Holding Ltd. Takes $130,000 Position in Palladyne AI Corp. $PDYN

Vontobel Holding Ltd. acquired a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,973 shares of the company’s stock, valued at approximately $130,000.

A number of other hedge funds have also made changes to their positions in PDYN. OMERS ADMINISTRATION Corp boosted its stake in Palladyne AI by 8.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 26,600 shares of the company’s stock valued at $156,000 after purchasing an additional 2,100 shares during the period. PNC Financial Services Group Inc. bought a new stake in Palladyne AI during the 1st quarter valued at approximately $35,000. SBI Securities Co. Ltd. boosted its stake in Palladyne AI by 47.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 32,803 shares of the company’s stock valued at $193,000 after purchasing an additional 10,599 shares during the period. Covestor Ltd boosted its stake in Palladyne AI by 5,657.0% during the 1st quarter. Covestor Ltd now owns 14,047 shares of the company’s stock valued at $83,000 after purchasing an additional 13,803 shares during the period. Finally, McGuire Investment Group LLC bought a new stake in Palladyne AI during the 2nd quarter valued at approximately $130,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Price Performance

Palladyne AI stock opened at $9.93 on Thursday. The company has a market capitalization of $416.55 million, a PE ratio of -5.31 and a beta of 3.75. Palladyne AI Corp. has a one year low of $1.69 and a one year high of $14.95. The business has a 50 day simple moving average of $8.09 and a 200 day simple moving average of $7.80.

Insider Activity at Palladyne AI

In other Palladyne AI news, CTO Denis Garagic sold 14,809 shares of Palladyne AI stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $7.42, for a total value of $109,882.78. Following the completion of the transaction, the chief technology officer owned 584,859 shares in the company, valued at approximately $4,339,653.78. The trade was a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kristi Martindale sold 6,406 shares of Palladyne AI stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total value of $47,532.52. Following the completion of the transaction, the insider owned 312,236 shares of the company’s stock, valued at approximately $2,316,791.12. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,963 shares of company stock valued at $200,065 in the last 90 days. 13.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Palladyne AI in a research note on Thursday, September 11th. They set a “hold” rating and a $8.00 target price for the company. Wall Street Zen upgraded Palladyne AI from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Palladyne AI in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.50.

Palladyne AI 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.