Palladyne AI (NASDAQ:PDYN) Earns Buy Rating from Analysts at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Palladyne AI (NASDAQ:PDYN) in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $15.00 target price on the stock.

Palladyne AI Price Performance

NASDAQ PDYN opened at $8.74 on Monday. Palladyne AI has a 1-year low of $0.45 and a 1-year high of $14.95. The business has a 50 day simple moving average of $6.76 and a two-hundred day simple moving average of $3.61. The stock has a market capitalization of $263.18 million, a PE ratio of -4.05 and a beta of 3.90.

Institutional Investors Weigh In On Palladyne AI

A number of hedge funds have recently bought and sold shares of PDYN. Charles Schwab Investment Management Inc. bought a new stake in shares of Palladyne AI in the 3rd quarter worth about $29,000. XTX Topco Ltd purchased a new position in Palladyne AI in the third quarter worth about $55,000. State Street Corp purchased a new stake in Palladyne AI during the third quarter valued at approximately $91,000. Pursue Wealth Partners LLC bought a new stake in shares of Palladyne AI in the 3rd quarter valued at approximately $168,000. Finally, Geode Capital Management LLC purchased a new position in shares of Palladyne AI in the 3rd quarter worth approximately $316,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

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.