Stephen Sonne Sells 5,245 Shares of Palladyne AI (NASDAQ:PDYN) Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 5,245 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $32,204.30. Following the completion of the sale, the insider owned 197,490 shares in the company, valued at $1,212,588.60. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Stephen Sonne also recently made the following trade(s):

• On Thursday, March 12th, Stephen Sonne sold 6,802 shares of Palladyne AI stock. The shares were sold at an average price of $7.55, for a total value of $51,355.10.

Palladyne AI Stock Performance

PDYN stock opened at $6.40 on Friday. The stock has a market capitalization of $297.57 million, a price-to-earnings ratio of -10.49 and a beta of 3.52. Palladyne AI Corp. has a 1 year low of $4.14 and a 1 year high of $13.00. The stock’s fifty day moving average is $6.39 and its two-hundred day moving average is $6.27.

Palladyne AI (NASDAQ:PDYN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.54 million for the quarter, compared to the consensus estimate of $4.93 million. As a group, analysts predict that Palladyne AI Corp. will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Palladyne AI

Several hedge funds and other institutional investors have recently bought and sold shares of PDYN. Quarry LP bought a new stake in Palladyne AI in the third quarter worth about $28,000. Osaic Holdings Inc. raised its position in 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. Boothbay Fund Management LLC bought a new stake in Palladyne AI in the fourth quarter worth about $44,000. Caitong International Asset Management Co. Ltd raised its position in Palladyne AI by 103.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,484 shares of the company’s stock worth $53,000 after acquiring an additional 6,343 shares in the last quarter. Finally, Atom Investors LP bought a new stake in Palladyne AI in the fourth quarter worth about $56,000. 26.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PDYN. Northland Securities began coverage on shares of Palladyne AI in a research note on Wednesday, April 1st. They set an “outperform” rating and a $10.00 price objective on the stock. Weiss Ratings cut shares of Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Palladyne AI from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Zacks Research upgraded shares of Palladyne AI to a “hold” rating in a research note on Wednesday, April 8th. Finally, Lake Street Capital began coverage on shares of Palladyne AI in a research note on Friday, April 17th. They set a “buy” rating and a $11.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.33.

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.