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Benjamin G. Wolff, the President and CEO of Palladyne AI Corp. (NASDAQ:PDYN), recently acquired a total of 5,000 shares of the company’s common stock. The purchase, which took place on March 7, 2025, was executed at a weighted-average price of $6.3962 per share, amounting to a total transaction value of $31,981. This acquisition is part of multiple transactions with prices ranging from $6.30 to $6.49. The stock, currently trading at $6.65, has shown remarkable momentum with a 320% gain over the past six months, according to InvestingPro data.
Following this transaction, Wolff directly owns 1,311,203 shares of Palladyne AI, reflecting his continued stake and confidence in the company’s prospects. Additionally, Wolff holds indirect ownership of shares through entities such as the MLC Solo 401k Trust and Mare’s Leg Capital, LLC, which are co-managed with his spouse, Julie Wolff. The company, valued at $234.21 million, maintains strong financial health metrics with a current ratio of 9.64 and impressive gross profit margins of 55.2%.
Investors will be watching closely to see how this insider activity might influence the company’s stock performance in the coming weeks. InvestingPro analysis reveals 12 additional investment tips for PDYN, including detailed insights on the company’s valuation and growth prospects.
In other recent news, Palladyne AI Corp. reported a 27% increase in year-over-year revenues and a significant 73% decrease in operating expenses for 2024. The company has approximately $40 million in cash and cash equivalents, which includes $23.3 million from recent equity financings. Palladyne AI has entered into a Sales Agreement with Jefferies LLC to sell shares of common stock through an "at the market offering" program, with $18.0 million worth of shares sold under a prospectus supplement filed in November 2024. The company has also secured a contract with the Air Force Research Laboratory to adapt its Pilot AI software platform to new AI computing chipsets, aiming to enhance UAV operations. Additionally, Palladyne AI and Red Cat Holdings achieved a milestone in a collaborative multi-drone flight test, demonstrating advanced autonomous capabilities. The company is preparing for the commercial release of its Palladyne Pilot software by the end of Q1 2025. In a strategic move, Michael Young, with extensive experience from Caterpillar (NYSE:CAT) and Dell (NYSE:DELL), joined Palladyne AI’s Board of Directors, replacing Laura J. Peterson. These developments highlight Palladyne AI’s ongoing efforts to expand its technological capabilities and strategic partnerships.
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