Palladyne AI (NASDAQ:PDYN) Insider Sells 5,341 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 5,341 shares of Palladyne AI stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $6.16, for a total transaction of $32,900.56. Following the completion of the transaction, the insider directly owned 340,690 shares in the company, valued at approximately $2,098,650.40. This represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Palladyne AI Price Performance

Shares of NASDAQ PDYN traded up $0.03 during trading hours on Friday, hitting $6.13. 811,264 shares of the stock were exchanged, compared to its average volume of 929,405. The company’s 50 day moving average is $5.81 and its 200 day moving average is $6.45. The firm has a market capitalization of $302.45 million, a P/E ratio of -9.01 and a beta of 3.65. Palladyne AI Corp. has a one year low of $4.14 and a one year high of $10.73.

Palladyne AI (NASDAQ:PDYN) last announced its earnings results on Thursday, August 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $5.78 million during the quarter, compared to the consensus estimate of $5.80 million. Palladyne AI had a negative return on equity of 53.29% and a negative net margin of 254.75%. Research analysts anticipate that Palladyne AI Corp. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on PDYN shares. Northland Securities set a $15.00 price target on Palladyne AI in a report on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palladyne AI in a report on Monday, August 3rd. Alliance Global Partners reaffirmed a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Finally, Jefferies Financial Group upgraded shares of Palladyne AI to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Palladyne AI by 26.0% in the third quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock valued at $13,126,000 after acquiring an additional 315,660 shares during the last quarter. Geode Capital Management LLC increased its stake in Palladyne AI by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 721,997 shares of the company’s stock valued at $3,077,000 after purchasing an additional 80,075 shares in the last quarter. State Street Corp increased its stake in Palladyne AI by 24.4% in the fourth quarter. State Street Corp now owns 588,570 shares of the company’s stock valued at $2,507,000 after purchasing an additional 115,409 shares in the last quarter. Millennium Management LLC raised its holdings in Palladyne AI by 767.3% in the third quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock worth $4,859,000 after purchasing an additional 500,472 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in Palladyne AI by 96.5% in the third quarter. Raymond James Financial Inc. now owns 412,586 shares of the company’s stock worth $3,544,000 after purchasing an additional 202,571 shares during the period. 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.