Palladyne AI (NASDAQ:PDYN) Insider Stephen Sonne Sells 6,802 Shares

Palladyne AI Corp. (NASDAQ:PDYN) 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 transaction, the insider directly owned 206,206 shares in the company, valued at $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 is accessible through this link.

Palladyne AI Stock Performance

Shares of PDYN traded down $0.14 during mid-day trading on Friday, reaching $6.92. 975,645 shares of the company were exchanged, compared to its average volume of 4,884,639. Palladyne AI Corp. has a 52 week low of $4.14 and a 52 week high of $13.00. The stock has a market capitalization of $291.00 million, a PE ratio of 31.41 and a beta of 3.78. The business has a 50 day simple moving average of $6.88 and a two-hundred day simple moving average of $6.93.

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

Institutional Investors Weigh In On Palladyne AI

Several hedge funds and other institutional investors have recently bought and sold shares of PDYN. Osaic Holdings Inc. raised its holdings in shares of Palladyne AI by 94.3% during the second 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. J.W. Cole Advisors Inc. grew its stake in shares of Palladyne AI by 18.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 17,200 shares of the company’s stock valued at $149,000 after buying an additional 2,700 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Palladyne AI by 7.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 42,027 shares of the company’s stock valued at $361,000 after buying an additional 2,855 shares during the period. Quarry LP bought a new stake in Palladyne AI in the 3rd quarter valued at about $28,000. Finally, Bridgeway Capital Management LLC increased its position in Palladyne AI by 9.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock valued at $422,000 after buying an additional 4,300 shares in the last quarter. 26.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PDYN. Jefferies Financial Group boosted their target price on shares of Palladyne AI from $7.00 to $8.00 and gave the company a “hold” rating in a report on Tuesday. Weiss Ratings upgraded Palladyne AI from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen downgraded Palladyne AI from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.00.

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.