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:PDYNFree Report) 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

(Free Report)

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.

Further Reading

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