Palladyne AI (NASDAQ:PDYN) Research Coverage Started at Northland Securities

Northland Securities initiated coverage on shares of Palladyne AI (NASDAQ:PDYN) in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $10.00 target price on the stock.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group upped their price objective on Palladyne AI from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings raised Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen cut Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.00.

Palladyne AI Price Performance

Shares of PDYN stock opened at $6.48 on Wednesday. Palladyne AI has a one year low of $4.14 and a one year high of $13.00. The company’s fifty day moving average price is $6.87 and its 200-day moving average price is $6.83. The company has a market capitalization of $301.26 million, a price-to-earnings ratio of 29.45 and a beta of 3.75.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Thursday, March 5th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. Palladyne AI had a net margin of 191.37% and a return on equity of 8.82%. The company had revenue of $1.66 million during the quarter, compared to the consensus estimate of $0.81 million.

Insiders Place Their Bets

In other news, insider Stephen Sonne sold 6,802 shares of Palladyne AI stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $7.55, for a total value of $51,355.10. Following the sale, the insider directly owned 206,206 shares of the company’s stock, valued at approximately $1,556,855.30. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Denis Garagic sold 12,945 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $7.55, for a total value of $97,734.75. Following the completion of the sale, the chief technology officer owned 592,284 shares in the company, valued at $4,471,744.20. This represents a 2.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,396 shares of company stock worth $206,840 in the last 90 days. 13.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Palladyne AI

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Palladyne AI during the 3rd quarter valued at approximately $28,000. Osaic Holdings Inc. increased its position in Palladyne AI by 94.3% in the second quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after purchasing an additional 2,474 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Palladyne AI in the fourth quarter worth $44,000. Caitong International Asset Management Co. Ltd raised its stake in Palladyne AI by 103.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock valued at $53,000 after purchasing an additional 6,343 shares in the last quarter. Finally, Atom Investors LP bought a new position in Palladyne AI during the fourth quarter valued at $56,000. 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. The company's software platform enables robotic systems to perceive their environment and quickly adapt to changing circumstances by generalizing from their experience using dynamic real-time operations without extensive programming and with minimal robot training.