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Benjamin G. Wolff, the President and CEO of Palladyne AI Corp. (NASDAQ:PDYN), recently purchased shares of the company’s stock valued at $17,259. The insider purchase comes as the stock has shown remarkable performance, delivering a 258% return over the past six months, though InvestingPro analysis indicates the stock is currently trading near its Fair Value. The transaction, dated March 11, 2025, involved the acquisition of 2,923 shares at a weighted average price of $5.9047 per share. The shares were acquired in multiple transactions with prices ranging from $5.85 to $5.95. Following this purchase, Wolff directly owns 1,314,126 shares of Palladyne AI, with additional indirect holdings through various trusts and entities. With a beta of 3.88 and significant price volatility, PDYN has demonstrated both risk and opportunity for investors. InvestingPro subscribers can access 12 additional key insights about PDYN’s financial health and market position.
In other recent news, Palladyne AI Corp. reported a 27% increase in year-over-year revenues and a significant 73% decrease in operating expenses as part of its 2024 financial results. The company strengthened its financial position with $40.1 million in cash and marketable securities by the end of 2024, supplemented by an additional $14.4 million raised in early 2025. Palladyne AI has entered into a Sales Agreement with Jefferies LLC to sell shares of common stock, resulting in approximately $18 million worth of shares sold by late December 2024, with plans to sell an additional $30 million. The company announced a new collaboration milestone with Red Cat Holdings, successfully completing a multi-drone flight test using Palladyne’s Pilot AI software. Additionally, Palladyne AI secured a contract with the Air Force Research Laboratory to adapt its Pilot AI software to new AI computing chipsets, a project that spans 26 months. In corporate developments, Michael Young, with extensive experience at Caterpillar (NYSE:CAT) and Dell (NYSE:DELL), joined Palladyne AI’s Board of Directors, taking over from Laura J. Peterson. The company anticipates the commercial availability of its Palladyne Pilot software by the end of the first quarter of 2025. These developments reflect Palladyne AI’s strategic growth and focus on advancing its AI software for various robotic platforms.
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