Insider Buying: Palladyne AI Corp. (NASDAQ:PDYN) Director Purchases $473,116.60 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) Director Dennis M. Weibling acquired 215,053 shares of Palladyne AI stock in a transaction on Thursday, October 31st. The shares were bought at an average cost of $2.20 per share, with a total value of $473,116.60. Following the completion of the purchase, the director now owns 389,884 shares in the company, valued at $857,744.80. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Palladyne AI Trading Up 5.3 %

Shares of PDYN stock opened at $2.19 on Thursday. The company has a market cap of $58.69 million, a price-to-earnings ratio of -0.73 and a beta of 3.30. The stock has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $1.80. Palladyne AI Corp. has a 12-month low of $0.45 and a 12-month high of $3.50.

Palladyne AI (NASDAQ:PDYN) last released its earnings results on Wednesday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter. The firm had revenue of $2.71 million during the quarter. Palladyne AI had a negative net margin of 893.88% and a negative return on equity of 62.26%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Palladyne AI stock. Pursue Wealth Partners LLC acquired a new position in shares of Palladyne AI Corp. (NASDAQ:PDYN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 93,768 shares of the company’s stock, valued at approximately $168,000. Pursue Wealth Partners LLC owned about 0.35% of Palladyne AI as of its most recent SEC filing. 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.