Delta Air Lines Inc. Takes Position in Palladyne AI Corp. (NASDAQ:PDYN)

Delta Air Lines Inc. bought a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 377,449 shares of the company’s stock, valued at approximately $676,000. Palladyne AI comprises 0.1% of Delta Air Lines Inc.’s investment portfolio, making the stock its 5th largest holding. Delta Air Lines Inc. owned about 1.25% of Palladyne AI as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PDYN. Pursue Wealth Partners LLC acquired a new position in Palladyne AI during the third quarter valued at $168,000. Geode Capital Management LLC acquired a new position in Palladyne AI during the third quarter valued at $316,000. State Street Corp acquired a new position in Palladyne AI during the third quarter valued at $91,000. XTX Topco Ltd acquired a new position in Palladyne AI during the third quarter valued at $55,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Palladyne AI in the 3rd quarter worth about $29,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

Palladyne AI Price Performance

Shares of PDYN stock opened at $3.55 on Friday. Palladyne AI Corp. has a fifty-two week low of $0.45 and a fifty-two week high of $7.93. The stock’s 50-day moving average is $2.97 and its two-hundred day moving average is $2.19. The firm has a market cap of $106.89 million, a P/E ratio of -1.64 and a beta of 4.26.

Insiders Place Their Bets

In other news, Director Dennis M. Weibling bought 215,053 shares of the company’s 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 transaction, the director now directly owns 389,884 shares in the company, valued at approximately $857,744.80. This trade represents a 123.01 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.00% of the company’s stock.

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.