Palladyne AI (NASDAQ:PDYN) CFO Sells $28,004.54 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) CFO Trevor Thatcher sold 4,561 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.14, for a total value of $28,004.54. Following the completion of the transaction, the chief financial officer owned 175,697 shares in the company, valued at approximately $1,078,779.58. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Trevor Thatcher also recently made the following trade(s):

• On Thursday, March 12th, Trevor Thatcher sold 7,649 shares of Palladyne AI stock. The shares were sold at an average price of $7.55, for a total value of $57,749.95.

Palladyne AI Price Performance

NASDAQ PDYN opened at $6.40 on Friday. The company has a market cap of $297.54 million, a PE ratio of -10.49 and a beta of 3.52. The stock’s 50 day simple moving average is $6.39 and its 200-day simple moving average is $6.27. Palladyne AI Corp. has a 1-year low of $4.14 and a 1-year high of $13.00.

Palladyne AI (NASDAQ:PDYN) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $3.54 million during the quarter, compared to analysts’ expectations of $4.93 million. Palladyne AI had a negative net margin of 358.04% and a negative return on equity of 49.17%. On average, equities research analysts anticipate that Palladyne AI Corp. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Northland Securities assumed coverage on Palladyne AI in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $10.00 target price on the stock. Weiss Ratings downgraded Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Zacks Research upgraded Palladyne AI to a “hold” rating in a research report on Wednesday, April 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $7.00 price target on shares of Palladyne AI in a report on Wednesday, May 6th. Finally, Lake Street Capital assumed coverage on Palladyne AI in a report on Friday, April 17th. They issued a “buy” rating and a $11.00 price target for the company. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Palladyne AI currently has a consensus rating of “Hold” and a consensus price target of $9.33.

Institutional Investors Weigh In On Palladyne AI

Several hedge funds and other institutional investors have recently made changes to their positions in PDYN. Quarry LP acquired a new stake in shares of Palladyne AI in the third quarter valued at approximately $28,000. Osaic Holdings Inc. increased its holdings 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 valued at $44,000 after purchasing an additional 2,474 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Palladyne AI in the fourth quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 valued at $53,000 after purchasing an additional 6,343 shares during the last quarter. Finally, Atom Investors LP acquired a new stake in shares of Palladyne AI in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds 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.