Palladyne AI Corp. (NASDAQ:PDYN) shares are trading higher Wednesday after the company announced it was awarded a contract by the Air Force Research Laboratory.
Palladyne Awarded Air Force Research Laboratory Contract
Palladyne said the contract, known as the Hierarchical Adaptive Networked Game-Theoretic Integration of Multiple Echelons (HANGTIME) project, is designed to advance swarming capabilities and enable coordinated operations across multiple domains.
Under the contract, Palladyne AI will use its patented SwarmOS software platform to connect autonomous systems so they can share intelligence, adapt to changing conditions and operate together across space, air, maritime and land environments. The company said the project marks the first time its technology will integrate satellites, extending its autonomy capabilities from ground-based systems to orbit.
The company said the integration is intended to improve intelligence, surveillance, and reconnaissance capabilities and support faster, more coordinated mission execution by enabling disparate systems to function as a unified network.
"Our collaboration with AFRL showcases what's next for autonomous operations," said Ben Wolff, president and CEO of Palladyne. "By connecting satellite, aerial, and ground systems using the patented SwarmOS embodied AI platform, we're helping the warfighter make better decisions in real time."
Palladyne said the contract represents a significant expansion of its multi-domain autonomy capabilities and supports integrated cross-domain operations.
Palladyne Stock Surges Above Key Levels
Currently, Palladyne is trading 60.8% above its 20-day simple moving average (SMA) and 41.2% above its 100-day SMA, indicating strong short-term momentum. Over the past 12 months, shares have decreased by 28.98% and are positioned closer to their 52-week highs than lows, suggesting a potential recovery phase.
The RSI is at 55.40, which is considered neutral territory, while the MACD is above its signal line, indicating bullish momentum. This combination suggests that positive momentum is building and the stock is not yet in overbought territory.
PDYN Price Action: At the time of writing, Palladyne shares are trading 25.31% higher at $8.18, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
