Denis Garagic Sells 17,176 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 17,176 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $105,460.64. Following the completion of the sale, the chief technology officer owned 559,959 shares in the company, valued at approximately $3,438,148.26. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Denis Garagic also recently made the following trade(s):

• On Thursday, March 12th, Denis Garagic sold 12,945 shares of Palladyne AI stock. The stock was sold at an average price of $7.55, for a total value of $97,734.75.

Palladyne AI Price Performance

NASDAQ PDYN opened at $6.40 on Friday. The firm has a market cap of $297.54 million, a PE ratio of -10.49 and a beta of 3.52. Palladyne AI Corp. has a one year low of $4.14 and a one year high of $13.00. The stock’s 50 day simple moving average is $6.39 and its 200 day simple moving average is $6.27.

Palladyne AI (NASDAQ:PDYN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). Palladyne AI had a negative return on equity of 49.17% and a negative net margin of 358.04%.The business had revenue of $3.54 million for the quarter, compared to the consensus estimate of $4.93 million. As a group, equities analysts expect that Palladyne AI Corp. will post -0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PDYN. Northland Securities started coverage on shares of Palladyne AI in a report on Wednesday, April 1st. They set an “outperform” rating and a $10.00 target price for the company. Zacks Research upgraded shares of Palladyne AI to a “hold” rating in a report on Wednesday, April 8th. Lake Street Capital began coverage on shares of Palladyne AI in a research note on Friday, April 17th. They issued a “buy” rating and a $11.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $7.00 target price on shares of Palladyne AI in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.33.

Institutional Trading of Palladyne AI

A number of hedge funds have recently made changes to their positions in PDYN. Quarry LP acquired a new stake in Palladyne AI during the 3rd quarter valued at $28,000. Osaic Holdings Inc. boosted its stake in Palladyne AI by 94.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock valued at $44,000 after purchasing an additional 2,474 shares during the period. Russell Investments Group Ltd. acquired a new position in Palladyne AI in the 3rd quarter valued at $61,000. Virtu Financial LLC acquired a new position in Palladyne AI in the 3rd quarter valued at $86,000. Finally, Boothbay Fund Management LLC bought a new position in Palladyne AI during the 4th quarter worth $44,000. 26.02% of the stock is owned by institutional investors and hedge funds.

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.