Millennium Management LLC Takes Position in Palladyne AI Corp. (NASDAQ:PDYN)

Millennium Management LLC purchased a new stake in Palladyne AI Corp. (NASDAQ:PDYN) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 10,950 shares of the company’s stock, valued at approximately $134,000.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new position in shares of Palladyne AI in the fourth quarter worth about $126,000. Cubist Systematic Strategies LLC acquired a new stake in Palladyne AI in the 4th quarter valued at about $129,000. Northern Trust Corp lifted its stake in Palladyne AI by 54.6% in the 4th quarter. Northern Trust Corp now owns 31,804 shares of the company’s stock worth $390,000 after purchasing an additional 11,226 shares in the last quarter. Cerity Partners LLC purchased a new position in Palladyne AI in the 4th quarter worth approximately $164,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Palladyne AI during the 4th quarter worth approximately $189,000. 26.02% of the stock is owned by institutional investors and hedge funds.

Palladyne AI Stock Performance

NASDAQ PDYN opened at $8.62 on Friday. The stock’s fifty day moving average is $6.79 and its two-hundred day moving average is $7.16. The firm has a market capitalization of $303.60 million, a P/E ratio of -3.99 and a beta of 3.80. Palladyne AI Corp. has a fifty-two week low of $1.38 and a fifty-two week high of $14.95.

Insider Activity

In other Palladyne AI news, insider Kristi Martindale sold 6,772 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were 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 in the company, valued at $2,304,542.68. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Trevor Thatcher sold 10,919 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $5.82, for a total value of $63,548.58. Following the sale, the chief financial officer now owns 171,720 shares in the company, valued at approximately $999,410.40. This trade represents a 5.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,068 shares of company stock valued at $279,443 in the last quarter. Insiders own 13.40% of the company’s stock.

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.