Themes Management Co LLC Purchases 332,982 Shares of Palladyne AI Corp. $PDYN

Themes Management Co LLC lifted its holdings in shares of Palladyne AI Corp. (NASDAQ:PDYN) by 561.7% in the first quarter, Holdings Channel.com reports. The fund owned 392,259 shares of the company’s stock after purchasing an additional 332,982 shares during the quarter. Palladyne AI accounts for approximately 1.5% of Themes Management Co LLC’s portfolio, making the stock its 12th largest position. Themes Management Co LLC’s holdings in Palladyne AI were worth $2,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP bought a new position in shares of Palladyne AI during the third quarter valued at $28,000. Boothbay Fund Management LLC bought a new stake in Palladyne AI during the 4th quarter worth about $44,000. Osaic Holdings Inc. grew its holdings in Palladyne AI by 94.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,098 shares of the company’s stock worth $44,000 after acquiring an additional 2,474 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Palladyne AI by 103.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock valued at $53,000 after acquiring an additional 6,343 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in Palladyne AI in the 4th quarter valued at about $56,000. Institutional investors own 26.02% of the company’s stock.

Palladyne AI Trading Down 5.5%

Palladyne AI stock opened at $4.94 on Friday. Palladyne AI Corp. has a 1 year low of $4.14 and a 1 year high of $10.73. The company has a market cap of $229.66 million, a PE ratio of -8.10 and a beta of 3.63. The company’s 50-day moving average is $6.29 and its two-hundred day moving average is $6.54.

Palladyne AI (NASDAQ:PDYN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. The business had revenue of $3.54 million during the quarter, compared to the consensus estimate of $4.93 million. Research analysts forecast that Palladyne AI Corp. will post -0.91 EPS for the current year.

Insider Activity at Palladyne AI

In other Palladyne AI news, CTO Denis Garagic sold 17,176 shares of Palladyne AI stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $105,460.64. Following the completion of the sale, the chief technology officer owned 559,959 shares of the company’s stock, valued at approximately $3,438,148.26. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Trevor Thatcher sold 4,561 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total transaction of $28,004.54. Following the sale, the chief financial officer owned 175,697 shares of the company’s stock, valued at $1,078,779.58. The trade was a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,982 shares of company stock worth $165,669 over the last ninety days. Company insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

PDYN has been the topic of a number of research reports. Northland Securities set a $15.00 target price on shares of Palladyne AI in a research report on Monday, June 8th. Lake Street Capital started coverage on shares of Palladyne AI in a research report on Friday, April 17th. They issued a “buy” rating and a $11.00 price objective for the company. Alliance Global Partners reaffirmed a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Jefferies Financial Group raised Palladyne AI to a “hold” rating in a report on Wednesday, June 10th. Finally, Zacks Research raised Palladyne AI to a “hold” rating in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.00.

About Palladyne AI

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.