Palladyne AI Corp. (NASDAQ:PDYN) Given Consensus Recommendation of “Hold” by Analysts

Palladyne AI Corp. (NASDAQ:PDYN) has earned an average rating of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $9.3333.

Several equities analysts recently commented on PDYN shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $7.00 price target on shares of Palladyne AI in a research report on Wednesday, May 6th. Zacks Research raised shares of Palladyne AI to a “hold” rating in a research report on Wednesday, April 8th. Lake Street Capital started coverage on shares of Palladyne AI in a research report on Friday, April 17th. They set a “buy” rating and a $11.00 price target for the company. Weiss Ratings lowered shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Northland Securities started coverage on shares of Palladyne AI in a research report on Wednesday, April 1st. They set an “outperform” rating and a $10.00 price target for the company.

Insider Transactions at Palladyne AI

In other news, CTO Denis Garagic sold 12,945 shares of the stock in a transaction on Thursday, March 12th. The shares were 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 of the company’s stock, valued at $4,471,744.20. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Trevor Thatcher sold 7,649 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $7.55, for a total transaction of $57,749.95. Following the completion of the sale, the chief financial officer directly owned 183,288 shares of the company’s stock, valued at $1,383,824.40. The trade was a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 27,396 shares of company stock valued at $206,840 over the last 90 days. Corporate insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On Palladyne AI

Several large investors have recently made changes to their positions in the business. Osaic Holdings Inc. increased its position in shares of 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 acquiring an additional 2,474 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Palladyne AI by 7.3% in the third quarter. SBI Securities Co. Ltd. now owns 42,027 shares of the company’s stock worth $361,000 after acquiring an additional 2,855 shares in the last quarter. Quarry LP acquired a new stake in shares of Palladyne AI in the third quarter worth $28,000. Bridgeway Capital Management LLC increased its position in shares of Palladyne AI by 9.7% in the second quarter. Bridgeway Capital Management LLC now owns 48,700 shares of the company’s stock worth $422,000 after acquiring an additional 4,300 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Palladyne AI by 136.7% in the second quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock worth $93,000 after acquiring an additional 6,213 shares in the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Stock Performance

Shares of PDYN stock opened at $6.59 on Tuesday. Palladyne AI has a one year low of $4.14 and a one year high of $13.00. The company has a 50 day moving average price of $6.66 and a 200 day moving average price of $6.37. The firm has a market capitalization of $306.37 million, a price-to-earnings ratio of -10.80 and a beta of 3.52.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 company had revenue of $3.54 million for the quarter, compared to analyst estimates of $4.93 million. As a group, equities analysts forecast that Palladyne AI will post -0.86 EPS for the current fiscal year.

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.