Palladyne AI (NASDAQ:PDYN) Stock Rating Upgraded by Jefferies Financial Group

Palladyne AI (NASDAQ:PDYN) was upgraded by research analysts at Jefferies Financial Group to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

PDYN has been the topic of several other research reports. Zacks Research upgraded Palladyne AI to a “hold” rating in a report on Wednesday, April 8th. Alliance Global Partners restated a “buy” rating on shares of Palladyne AI in a report on Tuesday, May 5th. Weiss Ratings downgraded Palladyne AI from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Northland Securities set a $15.00 price objective on Palladyne AI in a report on Monday. Finally, Lake Street Capital began coverage on Palladyne AI in a research note on Friday, April 17th. They set a “buy” rating and a $11.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Palladyne AI Trading Down 3.4%

Shares of Palladyne AI stock opened at $6.19 on Wednesday. The company’s 50-day moving average price is $6.68 and its two-hundred day moving average price is $6.36. Palladyne AI has a 52 week low of $4.14 and a 52 week high of $13.00. The stock has a market cap of $287.80 million, a PE ratio of -10.15 and a beta of 3.59.

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 business had revenue of $3.54 million during the quarter, compared to the consensus estimate of $4.93 million. On average, equities analysts predict that Palladyne AI will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling at Palladyne AI

In related news, CTO Denis Garagic sold 17,176 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.14, for a total value of $105,460.64. Following the completion of the sale, the chief technology officer owned 559,959 shares of the company’s stock, valued at approximately $3,438,148.26. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Sonne sold 5,245 shares of the business’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 $32,204.30. Following the completion of the sale, the insider directly owned 197,490 shares of the company’s stock, valued at approximately $1,212,588.60. The trade was a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,982 shares of company stock valued at $165,669 in the last 90 days. 13.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palladyne AI

Several large investors have recently made changes to their positions in PDYN. Millennium Management LLC grew its stake in shares of Palladyne AI by 767.3% in the 3rd quarter. Millennium Management LLC now owns 565,693 shares of the company’s stock valued at $4,859,000 after buying an additional 500,472 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Palladyne AI by 172.9% in the 2nd quarter. Geode Capital Management LLC now owns 592,640 shares of the company’s stock valued at $5,133,000 after buying an additional 375,440 shares in the last quarter. Themes Management Co LLC grew its stake in shares of Palladyne AI by 561.7% in the 1st quarter. Themes Management Co LLC now owns 392,259 shares of the company’s stock valued at $2,381,000 after buying an additional 332,982 shares in the last quarter. Vanguard Group Inc. boosted its position in Palladyne AI by 26.0% during the third quarter. Vanguard Group Inc. now owns 1,528,052 shares of the company’s stock worth $13,126,000 after purchasing an additional 315,660 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Palladyne AI by 96.5% during 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.

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.