GSA Capital Partners LLP Sells 94,652 Shares of Palladyne AI Corp. $PDYN

GSA Capital Partners LLP lessened its stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) by 41.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,963 shares of the company’s stock after selling 94,652 shares during the period. GSA Capital Partners LLP’s holdings in Palladyne AI were worth $1,168,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PDYN. Osaic Holdings Inc. raised its position in Palladyne AI by 94.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after buying an additional 2,474 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Palladyne AI during the second quarter valued at approximately $51,000. New York State Common Retirement Fund bought a new position in Palladyne AI during the second quarter valued at approximately $92,000. BNP Paribas Financial Markets boosted its stake in shares of Palladyne AI by 136.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock worth $93,000 after buying an additional 6,213 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Palladyne AI during the 2nd quarter valued at about $102,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Insider Activity at Palladyne AI

In related news, CTO Denis Garagic sold 15,611 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.11, for a total value of $79,772.21. Following the sale, the chief technology officer owned 569,248 shares in the company, valued at approximately $2,908,857.28. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristi Martindale sold 6,753 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $5.11, for a total transaction of $34,507.83. Following the transaction, the insider owned 305,483 shares in the company, valued at $1,561,018.13. The trade was a 2.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,423 shares of company stock worth $145,242 over the last ninety days. Insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, December 29th. Wall Street Zen raised Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $8.00.

Palladyne AI Trading Up 6.7%

NASDAQ:PDYN opened at $6.81 on Thursday. The business’s 50-day moving average is $5.94 and its 200 day moving average is $6.95. Palladyne AI Corp. has a 12 month low of $4.14 and a 12 month high of $13.00. The company has a market capitalization of $286.29 million, a P/E ratio of -4.03 and a beta of 3.80.

About Palladyne AI

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. The company's software platform enables robotic systems to perceive their environment and quickly adapt to changing circumstances by generalizing from their experience using dynamic real-time operations without extensive programming and with minimal robot training.