Palladyne AI Sees Unusually High Options Volume (NASDAQ:PDYN)
by Tristan Rich · The Markets DailyPalladyne AI Corp. (NASDAQ:PDYN – Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 5,618 call options on the stock. This represents an increase of approximately 222% compared to the typical volume of 1,743 call options.
Analyst Upgrades and Downgrades
PDYN has been the topic of a number of research reports. Wall Street Zen upgraded Palladyne AI from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Palladyne AI in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $8.00.
View Our Latest Analysis on PDYN
Palladyne AI Price Performance
Shares of PDYN traded up $2.19 during trading hours on Thursday, hitting $9.62. 34,327,710 shares of the company were exchanged, compared to its average volume of 4,958,271. The firm has a fifty day simple moving average of $6.44 and a 200-day simple moving average of $6.90. The company has a market capitalization of $404.40 million, a PE ratio of -5.69 and a beta of 3.78. Palladyne AI has a one year low of $4.14 and a one year high of $13.00.
Institutional Trading of Palladyne AI
Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Palladyne AI by 507.2% during the first quarter. Goldman Sachs Group Inc. now owns 115,407 shares of the company’s stock valued at $679,000 after buying an additional 96,402 shares during the period. Focus Partners Wealth purchased a new position in Palladyne AI during the first quarter valued at approximately $138,000. SBI Securities Co. Ltd. lifted its position in Palladyne AI by 19.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 39,172 shares of the company’s stock worth $339,000 after buying an additional 6,369 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Palladyne AI by 172.9% during the 2nd quarter. Geode Capital Management LLC now owns 592,640 shares of the company’s stock valued at $5,133,000 after buying an additional 375,440 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Palladyne AI during the 2nd quarter valued at $51,000. 26.02% of the stock is owned by institutional investors and hedge funds.
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. 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.