Alliance Global Partners assumed coverage on shares of Palladyne AI (NASDAQ:PDYN – Free Report) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $15.00 target price on the stock.
Palladyne AI Stock Performance
Shares of PDYN stock opened at $8.74 on Monday. The stock has a 50 day moving average price of $6.76 and a 200 day moving average price of $3.61. The firm has a market capitalization of $263.18 million, a P/E ratio of -4.05 and a beta of 3.90. Palladyne AI has a 52-week low of $0.45 and a 52-week high of $14.95.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PDYN. Charles Schwab Investment Management Inc. purchased a new stake in Palladyne AI in the 3rd quarter valued at about $29,000. XTX Topco Ltd purchased a new stake in shares of Palladyne AI in the third quarter valued at approximately $55,000. State Street Corp purchased a new position in Palladyne AI during the 3rd quarter worth $91,000. Pursue Wealth Partners LLC bought a new position in shares of Palladyne AI during the 3rd quarter worth $168,000. Finally, Geode Capital Management LLC bought a new position in Palladyne AI during the 3rd quarter worth about $316,000. 26.02% of the stock is currently owned by institutional investors.
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.
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